Bitcoin reclaims $80,000 for the first time since January with $85,000 as the next key level

[kevin1]

Bitcoin has closed above $80,000 for the first time in more than three months, reclaiming a level that had acted as resistance throughout February and March and flipping it back into support. The breakout also clears a descending trendline drawn from the April 13 swing high, completing a technical structure that daily chart analysts had been watching as the decisive confirmation of a trend change. The 20-day moving average is now providing support from below, the RSI has trended steadily higher and sits just below overbought territory with no bearish divergence visible on the daily timeframe, and the MACD has produced a bullish crossover. The combination of these signals on the daily chart represents the most constructive technical setup Bitcoin has shown since the October highs.The immediate resistance target that most analysts are watching is the 0.382 Fibonacci retracement level near $85,000.

Analyst Michael van de Poppe has mapped a more granular roadmap, identifying $79,000 as the zone that needed to break and hold before the next leg higher, with $86,000 to $88,000 as the first overhead resistance and $92,000 to $94,000 as the more decisive zone where a sustained move would confirm the broader bullish thesis. Van de Poppe also flagged $600 million in spot Bitcoin ETF inflows on the first trading day of May, consistent with the strong institutional demand pattern that characterized April. A clean break above $85,000 would open the path toward the 0.618 Fibonacci retracement at approximately $100,900, bringing the six-figure level back into realistic range for the first time since late January.

[etfs]

$600M ETF inflows on May's first trading day confirms institutional accumulation is driving this move, not retail.