Bitcoin (BTC) price entered the week’s final hours, holding steady above $85,000, a key psychological level. Analysts see the March 24 close as crucial for confirming or invalidating the current bullish structure.
According to TradingView, BTC traded at $87,710 at press time, up 1.5% on the day and 0.9% on the week.
$85K Close to Decide Bullish Momentum
Bitcoin price’s weekly close near $85,000 has become a major point of focus.
Ryan Lee, chief analyst at Bitget Research, said that holding this level would “prevent a drop to $76,000” and “signal strength,” while a move to $87,000 would “confirm a stronger bullish breakout.”
BTC/USD 1-day chart with RSI data. Source: Rekt Capital/X
Rekt Capital highlighted early signs of a bullish daily RSI breakout. “The Daily RSI is showcasing early signs of retesting the downtrend dating back to Nov. 2024 as new support,” the analyst posted on X.
BTC/USD 1-week chart with RSI data. Source: Matthew Hyland/X
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