As the crypto market approaches 3 trillion dollars again, bitcoin grabs attention by crossing $86,000, driven by an increase of over 3%. This rebound fuels projections of a move towards $88,640, but the setup remains fragile. Between immediate resistance zones and hesitant volumes, the bullish scenario remains conditional. Technical signals are accumulating, but only a clear breakthrough of key thresholds could confirm a sustainable recovery.
In brief
- •The crypto market is again approaching 3 trillion dollars in total capitalization.
- •Bitcoin records an increase of over 3%, rising above $86,000.
- •This progression fits into a technical structure of wave 4 type, according to specialists’ analysis.
- •The realization of this scenario will depend on the market’s ability to maintain sufficient trading volume.
A Technical Rebound That Remains to Be Confirmed
Bitcoin recorded a rise of over 3% over the past 24 hours after a drop below $84,000, reaching around $86,395, in a context of a broad market recovery, now valued at 2.95 trillion dollars.
Indeed, this increase fits into an identifiable sequence according to Elliott wave theory. Thus, bitcoin describes a dynamic composed of a bullish push in five waves, followed by a pullback on a support. This setup suggests the possibility of a new upward move, with a technical target located at $88,640, corresponding to the 100% Fibonacci extension.
In this perspective, several decisive technical levels condition the validity of this scenario. Here are the main points highlighted in this analysis:
- •A solid support zone: between $81,620 and $83,640. As long as the price remains above, the bullish structure remains intact.
- •The last critical low point: if BTC falls below $84,230, the trend would be weakened.
- •An immediate resistance: around $86,370, which bitcoin is currently trying to break.
The current bitcoin situation is therefore under close watch. If the bullish momentum manages to impose itself with sustained volumes, the target of $88,640 could be reached. Otherwise, a retreat below the mentioned technical levels could invalidate this short-term scenario.
Towards a Critical Zone Between $92K and $111K?
Beyond the immediate target at $88,640, a more ambitious outlook emerges. Bitcoin could aim, in a second phase, at a major resistance zone between $92,820 and $111,180.
This zone corresponds to the classic target of a wave four recovery in an extended corrective structure. Bitcoin could spend the next two weeks slowly moving towards this zone, according to a three-phase scenario: a wave A currently ongoing upwards, followed by a pullback in wave B, then a final rebound in wave C towards this resistance.
This extended scenario fits into a medium-term reading of BTC’s behavior. It assumes consolidation of the current support, but also an ability to generate sufficient momentum to break through several technical thresholds in series.
If volumes remain low or if the market faces macroeconomic resistance (such as monetary policy decisions or regulatory announcements), the complete development of this bullish sequence could be compromised.
Under tension but technically oriented, the bitcoin price remains suspended on the validation of critical thresholds. A move towards $88,000 would strengthen the bullish scenario, but caution dominates, as signals depend on volumes and short-term behavior.