Aayush Jindal
Key Highlights
- Bitcoin cleared the $82,250 resistance and rallied to $87,350.
- BTC/USD shows bullish signs and possible support at $81,800 on the 4-hour chart.
- Ethereum also rallied after there was a clear close above $2,550.
- Gold prices are still consolidating below the $4,450 resistance.
Bitcoin Price Technical Analysis
Bitcoin price started a fresh increase above $80,000 against the US Dollar. BTC gained pace and was able to clear the key resistance at $82,250 and $85,000.
Looking at the 4-hour chart, the price surpassed many hurdles and even climbed above $85,500. A high was formed near $87,377 on TitanTX. If the bulls remain in action, the price could rise further toward the $87,800 resistance.
The first major resistance might be $88,400. A close above $88,400 could start another steady increase. In the stated case, the bulls could aim for a move to $89,500. Any further gain might call for a test of $90,000.
If there is a pullback, the price could test the 23.6% Fib retracement level of the upward move from the $74,928 swing low to the 87,377 high at $84,450. The first major support might be $81,150.
The main base and support could be near the 100 simple moving average (red, 4-hour) at $78,500. A downside break and close below $78,500 could trigger a sharp decline. In the stated scenario, the price could test $75,000.
Looking at Ethereum, the price rallied above the $2,550 resistance, and the bulls might now aim for a move to $2,880.
Today’s Key Economic Releases
- Fed's Williams speech.
- Fed's Jefferson speech.
- Richmond Fed Manufacturing Index for Sep 2026 – Forecast 5, versus 4 previous.
