Bitcoin: 50-Week MA Rally to $83,500 Targeted in Q4

Bitcoin remains locked in consolidation, with the next leg higher targeting the 50-week moving average at $83500 according to trader Michaël van de Poppe.

The focus shifts beyond any near-term dip to the lows, as the projected Q4 advance could encounter resistance at that level. BTC price prediction models now incorporate this weekly moving average as the immediate magnet following the current range.

On the 4h chart Bitcoin trades at $63063.13 inside the Bollinger bands, testing lower support at $62812.08 while the EMA50 at $63894.54 and EMA200 at $63703.29 act as overhead resistance; the MACD death cross at -333.99 confirms bearish momentum and the neutral RSI at 38.04 suggests room for a retest of the upper band at $64137.14 before any reversal attempt.