Bitcoin Stuck Between $84K and $87K – What’s Next?
Bitcoin has been moving sideways over the past day, with little change in price. After last week’s 11% surge, BTC has lost all its gains and is now back to around $86,000. According to crypto analyst Burak Kesmeci, Bitcoin is in a tight spot, stuck between two key levels that could decide its next big move.
Key Levels to Watch: $84K and $87K
Kesmeci points out that $84,849 and $87,043 are major price zones where a lot of traders have placed stop-loss orders. These areas often act like magnets, attracting big moves as large traders look to trigger liquidations before making their next play.
- If Bitcoin breaks above $87,043, it could force short sellers to buy back, creating a squeeze that pushes BTC toward $90,000 or even higher.
- If BTC drops below $84,849, it could trigger a wave of selling, potentially sending the price down to $84,000, $83,000, or even $80,000.
Current Market Conditions
As of now, Bitcoin is trading at $86,389, showing a small 0.11% gain in the last 24 hours and 0.76% in the past week. However, BTC is still down 10.84% over the past month, leaving many late buyers in the red.
One red flag is that trading volume has dropped by over 72% in the last day, which means fewer traders are active. Unless a major event shakes things up, BTC might stay stuck between $84K and $87K for a while.
