• Bitcoin tested $82K support and bounced to $87K as traders watch.  
• A move above $91K could push Bitcoin toward $95K or higher.  
• Losing momentum may send Bitcoin toward $75K as sellers step in. 

Bitcoin is testing a critical support zone near $82,462, aligning with multiple technical levels. The price bounced from this confluence, where a long-term ascending trendline, a key moving average, and historical pivot levels converge. This reaction follows a sharp decline from $88,888, with Bitcoin currently trading at $87,313 on Kraken’s daily chart.   

Technical Confluence at $82,462

The price action highlights a textbook confluence zone, where Bitcoin met the intersection of two ascending trendlines and a moving average. The price wicked below these levels, dipping to a session low of $81,434 before reclaiming $87,313. The blue moving average, acting as dynamic support, has provided stability since August 2024. The trendline, originating from the "8/5 Pivot," has been a key structure in Bitcoin's bullish trajectory.

The chart suggests Bitcoin’s previous uptrend was intact until late February, with the asset reaching highs near $99,000 before the recent retracement. The reaction at this support zone indicates that buyers are defending this region, making it a decisive moment for short-term direction.

Resistance at $91,000 and Potential Upside

If this rebound holds, right now the first resistance level would be at $91,000. A break above this level could see the price moving toward a target of $95,000-$99,000. However, if this trendline support cannot be held, Bitcoin could be exposed to a retest of lower levels, with $75,000 appearing as the next major support level.

Market sentiment is mixed, as traders debate whether this confluence will hold or if Bitcoin will lose momentum. The recent wick below support suggests liquidity was grabbed before the price rebounded, a common occurrence in volatile conditions.

Traders React to the Perfect Setup

Social media reactions highlight divided opinions, with some traders praising the technical confluence, while others remain cautious. Comments under the chart suggest a growing expectation for a bounce, with one user stating, "Could use a nice bouncy bounce," while another critiques the presentation style.

Bitcoin’s next move depends on whether bulls can sustain momentum above $87,000. A firm close above this level could set the stage for a continuation, while any weakness could invite further selling pressure. With major levels clearly defined, the next few sessions will determine whether Bitcoin resumes its uptrend or if the recent breakdown extends toward lower support.

The post Bitcoin Holds $82K Support as Key Trendlines and Moving Averages Align  appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.