Bitcoin Price Eyes Bullish Continuation—Is $90K Within Reach?

Bitcoin's price has started a fresh increase above the $83,500 zone and is now consolidating gains. The price is trading above $83,000 and the 100 hourly Simple moving average. A connecting bullish trend line is forming with support at $84,200 on the hourly chart. The pair could start another increase if it clears the $85,500 resistance zone. Bitcoin price recently started a downside correction after forming a high at $85,850, but the bulls were active near the $83,000 zone and the price recovered losses. The price is now trading above $83,500 and the 100 hourly Simple moving average. Immediate resistance is near the $85,000 level, and the first key resistance is near the $85,500 level. If Bitcoin fails to rise above the $85,500 resistance zone, it could start another decline, with immediate support on the downside near the $84,200 level and the trend line. The main support sits at $80,800, and technical indicators such as the hourly MACD and RSI suggest a bullish trend. Any more gains might send the price toward the $87,500 resistance level or even the $88,000 level.