Bitcoin: Eyes $87,000 on 50-Week MA Reversal

Bitcoin returns to the 50-week MA near $87,000 during any market reversal, marking a fresh higher high that mirrors the 2023 cycle and sets the stage for altcoins to ignite, according to @CryptoMichNL.

With BTC price prediction models now factoring this weekly level, traders watch for the move that could extend the current cycle without triggering a crypto market crash. On the 4h chart Bitcoin trades at $65554 inside the Bollinger Bands with price testing upper resistance at $65813.44 while RSI sits at 67.25; the bullish EMA50 support at $63531.25 and MACD golden cross at 402.8 suggest a healthy retracement to that 50-EMA before continuation higher.