Will Bitcoin Reclaim $85,000 Next? Daily Chart Confirms Breakout

Bitcoin (BTC) has reclaimed $80,000 for the first time since January 31, ending a three-month price drought. The breakout flips a key level back into support and shifts the focus to $85,000 as the next major test.

Daily indicators have turned constructive, yet the lower timeframe still flashes warning signs. A breakdown from a multi-week ascending channel suggests bears have not been fully cleared from the picture.

Bitcoin Daily Chart Confirms Breakout Above Descending Trendline

BTC bounced off the $75,000 area, which acted as resistance throughout February and March, and is now pushing higher with support from the 20-day moving average. The move marks the first daily close above $80,000 in more than three months.

The breakout also completes a clean reclaim of the descending trendline drawn from the April 13 swing high. The Relative Strength Index (RSI) has trended steadily higher and now sits just below overbought territory, with no bearish divergence on the daily timeframe.

The Moving Average Convergence Divergence (MACD) has flipped with a bullish crossover.

Immediate resistance sits at the 0.382 Fibonacci retracement near $85,000. A clean break above that level would open the path to the 0.618 retracement at $100,900, broadly in line with the bullish outlook flagged earlier this month.

Van de Poppe Sees $86,000 As First Resistance Target

The bullish daily setup aligns with commentary from analyst Michael van de Poppe, who shared a daily BTC/USDT chart pointing to fresh institutional demand. He flagged $600 million in spot BTC ETF inflows on the first trading day of May, consistent with the strong inflows recorded throughout April.

Van de Poppe described the recent consolidation as relatively shallow, suggesting that buyers absorb dips quickly while inflows continue to build. He highlighted the $79,000 zone as the level that needs to break and hold before the next leg higher.

“Strong consolidation on $BTC… The $79K area is a crucial zone. That needs to break. If this breaks, I’m assuming we’ll see more upwards momentum and I’ve got $86-88K as first resistance area and $92-94K as the crucial one.”

His roadmap places $86,000 to $88,000 as the first overhead resistance and $92,000 to $94,000 as the more decisive zone. That layered map closely tracks the support levels flagged in earlier BeInCrypto coverage.

BTC 4-Hour Chart Flags Possible Drop to $75,000

The lower timeframe complicates the bullish daily story. On the 4-hour chart, RSI has pushed into overbought territory, and MACD prints higher green momentum bars.

However, volume has been declining throughout the most recent leg up, which suggests the stronger move may still be ahead.

A bearish scenario also remains on the table. Since March 26, BTC has traded within a parallel ascending channel, breaking down from the lower band on April 27. The current price action looks like a retest of that broken channel from below.

If the lower band rejects price as resistance, BTC could slide back toward $75,000, where bulls would need to defend the 0.236 Fibonacci retracement and the rising 50-day moving average. A loss of that area would invalidate the broader bullish thesis and could echo earlier patterns when ETF flows cooled and the price retraced.

The next 24 to 48 hours look pivotal. A decisive 4-hour close back inside the broken channel would invalidate the bearish setup and clear the road to $85,000.

A sharp rejection here would shift attention to the $75,000 floor.