Bitcoin's Price Stabilizes at $84,483, Bullish Momentum Builds

Bitcoin (BTC) is showing signs of strength on the daily chart, stabilizing around $84,483, slightly above the April 16 close. After weeks of sideways movement, the price action is now compressing within the Bollinger Bands, suggesting an imminent breakout. BTC is challenging the 20-day Simple Moving Average (SMA), which has acted as a dynamic resistance. A clear break and close above this level may usher in a new bullish wave.

Momentum is improving, as indicated by the Moving Average Convergence Divergence (MACD). The MACD line is crossing above the signal line, and green histogram bars have begun to emerge, confirming positive momentum. Structurally, Bitcoin has formed a higher low, a critical indication that bears are losing control and bulls may soon reclaim dominance.

The 4-hour chart reveals a well-formed ascending triangle, often considered a bullish continuation pattern. Bitcoin is pressing against horizontal resistance around $85,000 while maintaining higher lows. Bollinger Bands are widening, and the price is trading above the midline, signaling growing volatility and directional intent. The MACD on this timeframe supports the bullish thesis. The histogram is green, and the MACD line remains above the signal line. A confirmed breakout above the $85,500 level would likely attract volume, potentially pushing BTC toward $88,000. Failure to break could lead to a brief pullback to the trendline support near $82,800.

Zooming into the 1-hour timeframe, Bitcoin has printed a double bottom of around $82,500, establishing a solid base. Since then, the price has reclaimed the 20-SMA and pierced the midline of the Bollinger Bands, reflecting bullish intent. Multiple bullish engulfing candles have also formed, confirming buying interest at lower levels. The MACD on the 1-hour supports this bullish sentiment. The crossover is clean, and histogram bars continue to rise. With price testing the $85,000 resistance zone, a decisive push-through could ignite a surge. If bulls falter, support remains firm between $83,000 and $82,500.

Immediate support is seen at $82,500—the neckline of the 1-hour double bottom—and further down at $80,000. Resistance lies at $85,500, which aligns with both 4-hour pattern resistance and the upper Bollinger Band on the daily chart. Beyond that, $87,200 is the next key zone to watch, potentially leading to a broader recovery if broken. These levels will likely define today’s trading range and are crucial for traders seeking short-term setups.

Bitcoin’s price action is supported by clear bullish formations across multiple timeframes. The ascending triangle on the 4-hour chart, double bottom on the 1-hour, and a potential breakout from Bollinger Band compression on the daily all point to upward momentum. These converging patterns often precede sharp price movements when backed by rising volume and momentum indicators. Volume has been gradually increasing during upward moves, particularly on the lower timeframes, suggesting strong accumulation. Sentiment is improving, with a noticeable shift from bearish uncertainty to cautious optimism. Funding rates remain neutral, indicating a healthy market with balanced leverage. On-chain signals also favor the bulls, with exchange reserves decreasing and long-term holders accumulating—classic signs of confidence in price appreciation.

Considering the technical alignment, Bitcoin is likely to trade between $82,800 and $87,200 today. If bulls break above the $85,500 resistance, the price could test $87,000–$88,000 intraday. Should resistance hold, BTC may consolidate between $83,500 and $85,000 before attempting another breakout. Overall, momentum is on the bulls’ side, and a strong daily close could lay the groundwork for further upside in the days ahead.