Bitcoin Price Update: $88K Support Holds Again
$Bitcoin has once again reclaimed and stabilized above the $88,000 support zone, a level that has now proven its importance across multiple timeframes.
After a sharp sell-off earlier this month, BTC briefly dipped into the mid-$85K area before buyers stepped in aggressively. The recovery back above $88K suggests that this level is acting as a short-term equilibrium zone rather than just a temporary bounce.
However, holding support is only half the story. The next move will depend on whether Bitcoin can build enough momentum to challenge higher resistance levels.
1-Hour Chart Analysis: Range Tightening Above Support
On the 1-hour chart, Bitcoin is clearly trading inside a defined range:
- Support: $88,000
- Lower range support: ~$85,400
- Resistance: $89,200–$89,800
BTC/USD 1-hour chart - TradingView
Price action shows repeated tests of $88K followed by shallow pullbacks, which is a sign of absorption rather than panic selling. Each dip is being bought, but upside follow-through remains limited.
Momentum indicators reflect this indecision:
- Short-term momentum has cooled
- No clear impulsive breakout yet
- Volatility is compressing
This kind of structure often precedes a strong directional move once the range resolves.
Daily Chart Analysis: Market Still in a Corrective Phase
Zooming out to the daily timeframe, the broader picture remains corrective.
Bitcoin is still trading:
- Below the major resistance near $107,500
- Well under the cycle high zone above $120K
- Above major macro support near $80K
BTC/USD 1-day chart - TradingView
The rejection from the $107K area earlier marked a clear trend shift from expansion to consolidation. Since then, $BTC has been building a descending structure with lower highs, while still respecting higher-timeframe support.
This tells us one important thing:
The market is not in panic mode, but it is also not in breakout mode yet.
Bitcoin Price Prediction: Two Scenarios Ahead
Range Trade (Short-Term)
- Long near: $88K–$85.5K
- Stop loss: Below $84.8K
- Target: $89.8K–$92K
Breakout Trade
- Entry: Confirmed break and hold above $90K
- Target: $92.5K → $96K
- Invalidation: Return below $88.8K
Bearish Breakdown Trade
- Entry: Daily close below $88K
- Target: $85.4K → $80K
- Invalidation: Reclaim above $89K
