Bitcoin’s been on a bit of a rollercoaster lately. After hitting highs above $100,000, it tumbled below $80,000, leaving many wondering if the bull market is over. But there might still be hope.
The $86,190 Hurdle
According to crypto analyst RLinda, Bitcoin is showing some positive signs after a significant drop. However, it’s not a clear victory yet. Before we can declare a bullish breakout, Bitcoin needs to decisively break through the $86,190 resistance level.
This level is crucial. If Bitcoin can successfully clear it, the path to higher prices opens up, with the next major resistance at $88,800. Reaching $90,000 again is still a long shot, but it becomes a more realistic possibility. The analyst points out that Bitcoin is currently moving above a descending channel, setting the stage for a potential breakout.
What if Bitcoin Fails?
The outlook isn’t all rosy. If Bitcoin can’t break through $86,190, the bears might push the price even lower. Support levels would then fall to $83,170, and then potentially below $80,000 to around $78,170 – levels not seen since March 2025. RLinda cautions that a quick attempt to break through $88,800 could result in a false breakout and a subsequent price correction. It’s a situation to watch carefully.
