Bitcoin is consolidating around $83,500 after bouncing from the $76K region, having recovered to the $88K resistance zone on the daily chart, a decisive level to break for bullish confirmation. The 100-day and 200-day moving averages are improving with a potential bullish crossover expected in the coming weeks, though a bearish divergence is visible on the RSI. On the 4-hour chart, BTC is coiling in a short-term range bounded by trendlines near $82K and $85K. CryptoQuant’s Apparent Demand Growth metric has recently leaned negative, indicating that underlying demand has not yet confirmed a sustained upward move, leaving the consolidation vulnerable to a deeper correction if BTC fails to break above $88K.
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