Bitcoin Eyes $81,600 as Key Support

 Bitcoin Eyes $81,600 as Key Support

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Bitcoin May Retest $75,000 to $85,000 Range, Support Level at $81,600

Bitcoin continues its bullish momentum, but market analysts suggest a potential retracement to the $75,000–$85,000 range. There's not much volume around $75,000 based on market depth. The key support level to watch is the 200-day Moving Average (MA) at $81,600, which could act as a strong buffer against further downside.

Technical Analysis: $81,600 as a Crucial Support Level

Historically, the 200-day MA has been a reliable indicator for Bitcoin’s long-term trend. At $81,600, this moving average represents a critical support zone. If BTC corrects to this level, buyers may step in, preventing further declines.

A sustained move below $81,600 could trigger additional selling pressure, pushing BTC toward the lower end of the $75,000 range. Conversely, a successful rebound from this level could confirm it as a strong foundation for another leg up.

Bullish Outlook: Higher Lows and Strong Demand

Despite short-term corrections, Bitcoin’s price structure remains bullish. Higher lows indicate strong buying interest, and institutional demand continues to provide support. If BTC holds above $81,600, the next upside target could be the $90,000–$100,000 zone.

Market Sentiment and Key Levels to Watch

Resistance Levels: $85,000, $88,500

Support Levels: $81,600 (200-day MA), $78,000

Macro Factors: Institutional accumulation, ETF inflows, and Federal Reserve policies

A successful retest of the $81,600 level could provide a strong base for Bitcoin to resume its uptrend. However, if selling pressure increases, traders should watch for deeper pullbacks toward $75,000.

Conclusion

Bitcoin’s price action suggests that a correction to the $75,000–$85,000 range is possible, with the 200-day MA at $81,600 acting as a key support level. Holding above this zone would reinforce the bullish trend, while a breakdown could lead to further declines. Traders should closely monitor price reactions at these levels to gauge Bitcoin’s next move.