Intraday Movement:

 

Bitcoin’s price has slightly retreated in recent intraday trading, relying on support from its 50-period simple moving average.

This move appears aimed at gaining some positive momentum to sustain the ascending corrective wave dominating its short-term trading, supported by a series of positive RSI signals after previously reaching extreme oversold levels.

 

Outlook:

 

We anticipate that Bitcoin’s price will resume its upward movement in upcoming sessions, provided that the near support at $81,970.00 holds firm.

With this support intact, our price target extends to $87,000.