XRP's price chart paints a bearish picture, but a softer-than-expected U.S. inflation could spark a rebound.
With only two weeks left of 2025, market participants wonder whether the Bitcoin (BTC) and the rest of the crypto market will continue to struggle or begin recovering. An analyst discussed the current market sentiment and the impact it may have on market performance. Related Reading: XRP Price Must Defend This Level To Avoid 50% Breakdown, Analyst Warns The Four-Year Crypto Cycle Is ‘Like Faith In God’ As we approach the end of the year, concerns about the crypto market’s performance continue to mount. Bitcoin, the largest cryptocurrency by market capitalization, has seen a 30% decline from its early October peak. As the volatility persist and the flagship crypto trades below its yearly opening price of $93,500, some investors questioned the four-year cycle theory, suggesting that the theory may no longer hold after the recent market’s performance. Responding to one of these comments, pseudonym market observer Plur affirmed that the four-year crypto cycle has evolved over the years and that “there is no magical rule of nature stating price must go up and down on this fixed cadence.” The analyst explained that the theory is a “memetic consensus, which is a form of implicit agreement and coordination that people will buy and sell together at set times, and by doing so, force outsiders to participate and bring their money.” “It’s an egregore-as-cartel. It’s a large group of loosely connected people all saying, every 4 years, we are going to hike up and down this mountain at the same time,” he detailed on the Wednesday post. Another community member added that the crypto cycle “is like faith in God: everyone believes in it, but no one has ever seen it.” Plur added that the initial catalyst and “original metronome” of this theory was the halving but that it has become “something more than that.” Market Struggles As Investors’ Faith Splits The evolution of the four-year crypto cycle has led some market participants to try to shift their behavior to “front run the moves of others” to benefit more.” As a result, many investors started to sell aggressively in 2025 anticipating of the end of the cycle. To the market watcher, this “represents a fraying in the memetic consensus, and eventually it collapses, as belief decays.” Similarly, Ark Invest’s CEO, Cathie Wood, recently affirmed that Bitcoin is currently “climbing another wall of worry” that has made investors cautious of the upcoming market performance. She explained that there is fear of the four-year cycle, which suggests that 2026 will be a corrective year. Plur noted that the crypto market is in an uncertain state, where some investors continue to believe in the theory and some don’t. Related Reading: Solana Leads As Most Popular Blockchain Ecosystem For Second Consecutive Year – Report “The biggest impact that might have is not giving people enough confidence to buy on the upswing. Remember how assured you felt buying in 2023? Now the troops are scattered because the coordination mechanism is gone,” he stated. Plur added that “in equities the memetic consensus is that the index will always grind up over time, buy the dip, trust the process. (…) I had been hopeful that something similar could come in for BTC to replace the 4 year cycle, but sell pressure was way too high,” leading to the indeterminate state of the market. He concluded that it’s time to wait and see if a new form of memetic consensus can form. Featured Image from Unsplash.com, Chart from TradingView.com
Bitcoin price has been moving sideways around $86K, keeping the crypto market nervous. However, bullish hope has returned as Bitcoin formed a fresh Golden Cross, a signal that often comes before major price rallies.” According to popular trader Merlijn The Trader, this setup could fuel a 45%–50% move, potentially pushing Bitcoin toward $130K in the …
U.S. inflation data for November, expected to show a 3.1% increase in CPI, could influence Federal Reserve interest rate decisions.
India has cleared Coinbase’s minority stake in CoinDCX, paving the way for the U.S. exchange to expand in the local crypto market.
Bitcoin is trading near $86,600 after a volatile trading day, with analysts expecting continued volatility amid macroeconomic uncertainty.
A cryptocurrency analyst has explained where Ethereum could go next based on a long-term Parallel Channel forming in its monthly price chart. Ethereum Has Been Trading Inside A Parallel Channel For The Last Few Years In a new post on X, analyst Ali Martinez has talked about a long-term pattern that Ethereum has appeared to have been following for the last few years. The pattern in question is a “Parallel Channel” from technical analysis (TA), which forms whenever an asset’s price trades between two parallel trendlines. Related Reading: Bitcoin Could Be Sub-$50,000 By 2028 Without Quantum Fix, Warns Capriole Founder The upper level of a Parallel Channel is likely to facilitate top formations in the asset, while the lower one can act as a support boundary and allow the price to remain above it. Parallel Channels can be of a few different types depending on how the lines are oriented with respect to the graph axes. If the channel has some slope, it falls into either the Ascending or Descending categories. Naturally, it’s the former when the lines are angled upward and latter when they are downward. In the context of the current topic, the simplest type of Parallel Channel is of relevance: a channel that has zero slope. That is, a pattern with lines that are parallel to the time-axis. As an asset trades inside such a channel, it experiences consolidation in an exactly sideways manner. If one of the levels of the pattern break, a sustained continuation of trend may occur in that direction. This means that a surge above the resistance can be a bullish signal, while a fall under support a bearish one. Now, here is the chart shared by Martinez that shows the Parallel Channel that the monthly price of Ethereum has been trading inside for the last few years: As displayed in the above graph, the recent bearish wave in Ethereum has meant that its 1-month price has retraced to the midway line of the Parallel Channel located at $2,930. Martinez has noted that if ETH closes December below this level, a decline to lower levels could occur. The next potential support is situated at $2,000, corresponding to the 25% mark of the Parallel Channel. The cryptocurrency found support around this line in the starting months of 2025. In the scenario that this level also fails, Ethereum may be looking at a fall to the bottom line of the Parallel Channel at $1,090. The asset last retested it back in 2022 and successfully found support. Related Reading: Chainlink’s Top Whales Reverse Course, Quietly Scoop Up $263M In LINK It now remains to be seen how ETH will close out the month and whether one of the next two levels of the pattern will come into play. ETH Price At the time of writing, Ethereum is floating around $2,860, down over 15% in the last seven days. Featured image from Dall-E, chart from TradingView.com
On Wednesday, a bipartisan meeting of the Senate Banking Committee, led by Senator Tim Scott, offered a cautiously optimistic outlook for discussions surrounding the anticipated crypto market structure bill. Despite the absence of any markup hearings scheduled for this week, industry representatives and senators engaged in what many considered a productive dialogue regarding the evolving legislative landscape. Senators Collaborate With Industry Leaders Key figures from major crypto firms were among the attendees, including executives from Coinbase (COIN), Kraken, Chainlink, a16z, and Ripple, who have been increasingly involved in discussions aimed at fostering the positive growth of digital assets in the country. According to Eleanor Terret from Crypto In America, the atmosphere of the meeting was described as “constructive and collaborative.” Senators from both parties engaged actively with industry representatives, asking insightful questions and exploring the nuances of the proposed bill text. Related Reading: Cantor Fitzgerald Projects Major Growth For Hyperliquid (HYPE) In Explosive New Report Participating senators included Democrats Mark Warner and Catherine Cortez Masto, who were noted for their engagement and for posing significant questions to both the industry representatives and Senate Banking staff. Three key areas of ongoing negotiation emerged from the discussions: the classification of tokens—distinguishing between securities and commodities, the roles of stablecoin interest versus rewards, and discussions surrounding decentralized finance (DeFi). The meeting’s update follows earlier confirmation from a committee spokesperson that the Banking Committee will not conduct a markup hearing prior to the upcoming Christmas break. Instead, the committee intends to monitor the bill’s progress for potential action in early 2026. Intensified Talks On Crypto Regulation In a statement released earlier this week, Jeff Naft, spokesperson for Chair Scott, emphasized the committee’s commitment to pursuing a bipartisan approach to address the complexities of digital asset market legislation. “Chairman Scott and the Senate Banking Committee have made strong progress,” Naft noted, underscoring continued efforts to establish a new regulatory framework that would enhance clarity for the crypto sector and position the United States as a leader in the digital assets arena. Negotiations have intensified over the past week, with Republican members of the Banking Committee working closely with their Democratic counterparts to seek a viable compromise. Related Reading: SEC Wraps Up Investigation Into Aave Protocol, Confirms CEO Stani Kulechov However, Democrats have also consistently called for additional time in the piece of legislation to address various concerns, particularly regarding financial stability, market integrity, and ethical considerations. Specific ethics concerns have arisen related to President Donald Trump and his family’s involvement in crypto-related business ventures, which reportedly have added to their wealth. As Congress prepares to reconvene after the holiday break, immediate attention will shift to federal government funding, with the current funding bill set to expire on January 30. Featured image from DALL-E, chart from TradingView.com
Coinbase revealed major expansions at its December 17 System Update event in San Francisco, launching stock trading for major U.S. stocks and ETFs with 24/5 access and zero fees, along with perpetual futures starting early next year for users outside the U.S. Prediction markets will launch through a Kalshi integration, offering thousands of regulated event …
Vitalik Buterin says Ethereum needs to boost the number of people who can understand the entire blockchain, and it can “get better at this by making the protocol simpler.”
Analysts estimated that crypto treasury firms face up to $11.6 billion in outflows if MSCI excluded them from its indexes.
Increased inflows into Bitcoin ETFs suggest growing investor confidence and potential stabilization in the cryptocurrency market.
The post Fidelity Bitcoin ETF leads $457M in inflows on Dec 17 appeared first on Crypto Briefing.
Solana failed to settle above $132 and nosedived. SOL price is now consolidating losses below $130 and might decline further below $120. SOL price started a fresh decline below $130 and $128 against the US Dollar. The price is now trading below $128 and the 100-hourly simple moving average. There is a key bearish trend line forming with resistance at $131 on the hourly chart of the SOL/USD pair (data source from Kraken). The price could start a recovery wave if the bulls defend $122 or $120. Solana Price Dips Again Solana price failed to remain stable above $132 and started a fresh decline, like Bitcoin and Ethereum. SOL declined below the $130 and $128 support levels. The price gained bearish momentum below $126. A low was formed at $121, and the price is now consolidating losses. The price recovered a few points and tested the 23.6% Fib retracement level of the downward move from the $134 swing high to the $121 low. Solana is now trading below $128 and the 100-hourly simple moving average. On the upside, immediate resistance is near the $125 level. The next major resistance is near the $128 level or the 50% Fib retracement level of the downward move from the $134 swing high to the $121 low. The main resistance could be $130. There is also a key bearish trend line forming with resistance at $131 on the hourly chart of the SOL/USD pair. A successful close above the $132 resistance zone could set the pace for another steady increase. The next key resistance is $140. Any more gains might send the price toward the $145 level. Another Decline In SOL? If SOL fails to rise above the $128 resistance, it could continue to move down. Initial support on the downside is near the $122 zone. The first major support is near the $120 level. A break below the $120 level might send the price toward the $112 support zone. If there is a close below the $112 support, the price could decline toward the $105 support in the near term. Technical Indicators Hourly MACD – The MACD for SOL/USD is gaining pace in the bearish zone. Hourly Hours RSI (Relative Strength Index) – The RSI for SOL/USD is below the 50 level. Major Support Levels – $122 and $120. Major Resistance Levels – $128 and $131.
Traders are positioning for downside risks, with a significant build-up of put options indicating expectations of a dip below $85,000.
Coinbase's expansion into diverse financial services could redefine its role in the financial ecosystem, enhancing market accessibility and innovation.
The post Coinbase to launch stock, derivatives trading, prediction markets, and more appeared first on Crypto Briefing.
According to statements reported by Russian news agencies, Anatoly Aksakov, Chairman of the State Duma Committee on Financial Markets, said cryptocurrencies “will never become money” in Russia and should be treated only as investment instruments. He said that where a payment is required, it must be made in Russian rubles. Related Reading: Ethereum Meets Wall Street: JPMorgan Rolls Out Tokenized Fund Ruble Remains Sole Payment Unit Based on reports, that stance matches existing law. A 2020 federal law on digital financial assets defines digital currency as something different from Russia’s monetary unit and bars its use as a means of payment inside the country. The law treats tokens and classic cryptocurrencies as property or investment items rather than legal tender. Russia Central Bank Concerns Over Stability Officials in Moscow have repeatedly echoed the central bank’s worry that allowing crypto for everyday payments could harm monetary control and financial stability. Regulators say the ruble’s role must be protected, and that volatility in assets like Bitcoin and Ethereum makes them unsuitable for regular transactions. Limited Windows For Crypto Use Reports have also noted that while crypto cannot be used to buy goods and services domestically, it can still exist in regulated pockets. Lawmakers and regulators are framing cryptocurrencies as tradable assets, not cash. Some narrow exceptions are being discussed for corporate or cross-border operations under strict rules, but those do not change the basic ban on domestic payments. What The Law Means For People And Business Practical effects are clear. Russian residents and businesses cannot accept digital coins in place of rubles for sales or services. At the same time, individuals can hold, trade, or invest in crypto under the framework that separates ownership from payment rights. The law also requires public officials to declare holdings in digital assets, linking transparency rules to the new regime. Related Reading: 5,606 Bitcoin: Lightning Network Sets Fresh Capacity Record A Narrowing Path Forward Based on reports from several outlets, the political message is firm: payments stay in rubles. Lawmakers are talking about refining rules for trading, custody and reporting, but they are not signalling a shift toward letting cryptocurrencies replace the ruble for daily use. That position keeps Russia on a different track from some countries that permit crypto payments or give coins legal tender status. Featured image from Unsplash, chart from TradingView
XRP price failed to gain pace above $1.950 and trimmed gains. The price is now struggling and faces resistance near the $1.90 level. XRP price started a fresh decline below the $1.90 zone. The price is now trading below $1.880 and the 100-hourly Simple Moving Average. There is a bearish trend line forming with resistance at $1.9350 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could continue to move down if it settles below $1.850. XRP Price Fails At Resistance XRP price attempted a recovery wave above $1.920 but failed to continue higher, like Bitcoin and Ethereum. The price started a fresh decline below $1.90 and $1.880. There was a move below the $1.8650 support level. A low was formed at $1.8473, and the price is now showing bearish signs below the 23.6% Fib retracement level of the downward move from the $1.9865 swing high to the $1.8437 low. The price is now trading below $1.90 and the 100-hourly Simple Moving Average. There is also a bearish trend line forming with resistance at $1.9350 on the hourly chart of the XRP/USD pair. If there is a fresh upward move, the price might face resistance near the $1.880 level. The first major resistance is near the $1.9150 level or the 50% Fib retracement level of the downward move from the $1.9865 swing high to the $1.8437 low. A close above $1.9150 could send the price to $1.9350 and the trend line. The next hurdle sits at $1.950 and the trend line. A clear move above the $1.950 resistance might send the price toward the $2.00 resistance. Any more gains might send the price toward the $2.020 resistance. The next major hurdle for the bulls might be near $2.080. More Losses? If XRP fails to clear the $1.9150 resistance zone, it could start a fresh decline. Initial support on the downside is near the $1.850 level. The next major support is near the $1.8320 level. If there is a downside break and a close below the $1.8320 level, the price might continue to decline toward $1.80. The next major support sits near the $1.7650 zone, below which the price could continue lower toward $1.720. Technical Indicators Hourly MACD – The MACD for XRP/USD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level. Major Support Levels – $1.850 and $1.8320. Major Resistance Levels – $1.9150 and $1.9350.
The change distances the Fed from policies denounced as Operation Chokepoint 2.0, which state-chartered crypto banks said boxed them out.
While Coinbase did not disclose the size of the investment, CoinDCX said the deal valued the Indian exchange at $2.45 billion.
The joint venture aims to source $300 million in Ripple Labs equity for institutional and qualified retail investors in South Korea.
Many of the crypto ETP applications awaiting SEC approval will launch in 2026, but a lot of those won’t survive beyond 2027, says Bloomberg analyst James Seyffart.
The idea that Bitcoin’s halving operates on a fixed four-year timetable has become one of the most oversimplified narratives in the crypto markets. While the halving still reduces new supply, its influence is no longer confined to predictable timelines or uniform outcomes. As BTC matures into a globally traded asset, the forces shaping its market behavior have expanded beyond the event. How The Cycle Narrative Became Oversimplified In an X post, an analyst known as Deg_ape revealed that the Bitcoin halving cycle was never a rigid four-year clock. BTC’s cycle has always been about phase transitions, shifting liquidity conditions, and market behavior, but never about buying every four years and selling four years later. This cycle actually maps macro bear phases that expand, contract, overlap, and stretch based on macro flows and positioning. Related Reading: Bitcoin Bullish Structure Weakens As Inter-Exchange Liquidity Touches Red Zone – Details The four-year cycle still exists, but it is not a linear process. Deg_ape explains that BTC halvings act as a structural anchor, not a price guarantee. This is why market tops usually arrive later than most expect and why bear markets last longer than people can tolerate. Trying to time the BTC market cycle without understanding that these phase dynamics can lead to expensive mistakes. Kyle Chassé has pointed out that Bitcoin dipped, and traders stopped watching the printer, which is a big mistake. This is the most dangerous divergence in the market as price is down, but liquidity is vertical. While traders were panicking and selling their slips, the US Treasury and the Fed quietly injected around $130 billion of fresh liquidity into the system. This shows that liquidity would lead the price, but it won’t do it instantly. There’s a big lag as liquidity will flood the market first, then the assets will reprice. However, a red candle on a green liquidity chart isn’t a crash, but a mispricing. While the printer is screaming up, the price chart is whispering down. Why Retail Holders Are Capitulating At A Historic Rate A crypto analyst known as OnChainCollege outlined that retail holders are under pressure. On-chain data shows the deepest 30-day balance decline among retail wallets since 2018, a level typically associated with periods of extreme fear and capitulation. While retail balances are falling sharply, larger holder cohorts are quietly absorbing the difference. Related Reading: Bitcoin Bullish Exhaustion? BTC Whales Close Long Positions After Extreme Upside Bets The market sentiment has split into two groups with polar-opposite perspectives from retail that are reacting to price action against larger holders that are responding to structure, liquidity, and long-term positioning. In the meantime, the OG whales have continued to distribute throughout this bull market, but Mega whales and institutional participants are stepping in as the marginal buyers. Featured image from Pixabay, chart from Tradingview.com
Ark Invest bought $10.56 million worth of shares in BitMine, $5.9 million worth of Coinbase shares, and $8.85 million worth of Bullish.
Bitwise predicted Bitcoin's volatility will stay below Nvidia's in 2026, citing institutional adoption and ETFs as drivers of the asset’s maturation.
Cryptocurrency markets are facing heightened volatility as the Bank of Japan (BOJ) prepares to raise interest rates, a move that could have ripple effects on Bitcoin, Ethereum, XRP, and other digital assets globally. BOJ Prepares Historic Rate Increase Japan has maintained ultra-low interest rates for decades to stimulate economic growth through cheap borrowing. However, rising …
Ethereum price failed to stay above $3,000 and declined further. ETH is now consolidating and might soon aim to start a recovery wave if it clears $2,880. Ethereum started a fresh decline below the $2,950 zone. The price is trading below $2,900 and the 100-hourly Simple Moving Average. There is a connecting bearish trend line forming with resistance at $2,920 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move down if it settles below the $2,800 zone. Ethereum Price Dips To New Weekly Lows Ethereum price attempted a fresh increase but struggled above $3,000, like Bitcoin. ETH price dipped below $2,950 and $2,920 to enter a bearish zone. The bears even pushed the price below $2,850. A low was formed at $2,790 and the price is now consolidating losses well below the 23.6% Fib retracement level of the downward move from the $3,175 swing high to the $2,790 low. Ethereum price is now trading below $2,900 and the 100-hourly Simple Moving Average. Besides, there is a connecting bearish trend line forming with resistance at $2,920 on the hourly chart of ETH/USD. If there is another upward move, the price could face resistance near the $2,880 level. The next key resistance is near the $2,920 level and trend line. The first major resistance is near the $2,980 level and the 50% Fib retracement level of the downward move from the $3,175 swing high to the $2,790 low. A clear move above the $2,980 resistance might send the price toward the $3,030 resistance. An upside break above the $3,030 region might call for more gains in the coming days. In the stated case, Ether could rise toward the $3,120 resistance zone or even $3,150 in the near term. Another Decline In ETH? If Ethereum fails to clear the $2,880 resistance, it could start a fresh decline. Initial support on the downside is near the $2,800 level. The first major support sits near the $2,780 zone. A clear move below the $2,780 support might push the price toward the $2,740 support. Any more losses might send the price toward the $2,625 region. The next key support sits at $2,550. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 zone. Major Support Level – $2,780 Major Resistance Level – $2,920
The Federal Reserve says it has withdrawn its old guidance around crypto as it was outdated, and its understanding has evolved.
The founder of Capriole Investments has warned about the Quantum risk to Bitcoin, saying there’s a 34% chance it breaks BTC in the next three years. Bitcoin Could Trade At A Discount If No Quantum Fix Is Deployed As Quantum Computing continues to advance, many in the Bitcoin community have been raising concerns about what a breakthrough could mean for the cryptocurrency. Capriole Investments founder Charles Edwards has been one of those voices. Related Reading: Chainlink’s Top Whales Reverse Course, Quietly Scoop Up $263M In LINK Last week, Edwards gave a presentation on the Quantum threat to Bitcoin at the Global Blockchain Show in Abu Dhabi. The analyst has also shared some insights on X. According to Edwards, there’s a 34% chance that Quantum will undermine BTC’s cryptography in the next three years. Based on this, the Capriole founder has assigned a 34% discount to BTC today. “Given a 2-3 yr timeline to deploy fix, this is the current discount rate,” noted Edwards. “And it is growing. Every. Single. Day.” The probability has been estimated using seven different sources providing timelines for Quantum Computing breakthroughs. If Capriole’s calculations are to go by, the Quantum threat has a chance of more than 50% to affect blockchain technology by 2030. What will happen in the scenario that Quantum Computing does end up unlocking Bitcoin’s cryptography? Even if wallets today are secured properly, there are still old wallets that can be vulnerable. A chunk of the BTC supply has been dormant for years, and with a Quantum breakthrough, it could potentially find its way back into circulation. The most popular example of dormant holdings is, of course, the ones attributed to the cryptocurrency’s pseudonymous creator, Satoshi Nakamoto. Satoshi’s wallets hold a total of 1,096,354 BTC, worth a whopping $95 billion at current prices. All these coins possibly being dumped on the market would naturally have a negative effect on the Bitcoin price. Not just because of the scale involved, but also because of the loss of confidence that such an event would result in. Considering the threat, Capriole has repeatedly stressed that a fix needs to be implemented as soon as possible. So far, the community hasn’t reached a consensus on when or what the solution should be. In an X post, Strategy co-founder and chairman Michael Saylor has also chimed in on the topic. “Quantum computing won’t break Bitcoin—it will harden it,” wrote Saylor. “The network upgrades, active coins migrate, lost coins stay frozen.” In this scenario, the coins attached to Satoshi and other early miners will forever become inaccessible. Related Reading: Bitcoin, Ethereum Plunge Triggers Near-$600 Million Crypto Long Flush Edwards has warned that if a solution isn’t implemented in time, the coin may face its biggest bear market in history. “If we haven’t deployed a fix by 2028, I expect Bitcoin will be sub $50K and continue to fall until it’s fixed,” said the Capriole founder. BTC Price At the time of writing, Bitcoin is trading around $86,500, down 5.7% over the last week. Featured image from Dall-E, Capriole.com, chart from TradingView.com
Coinbase shared a slate of new offerings at its System Update conference, including prediction markets, robo-advisers and custom stablecoins.
Bitcoin price attempted to start a fresh increase but failed at $90,000. BTC is now consolidating and might struggle to clear the $88,000 zone. Bitcoin started a fresh decline below the $87,000 zone. The price is trading below $87,500 and the 100 hourly Simple moving average. There was a break below a bullish trend line with support at $86,450 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might continue to move up if it settles above the $87,500 zone. Bitcoin Price Consolidates Losses Bitcoin price attempted a fresh surge above $88,000 and $88,500. BTC tested the $90,000 resistance zone and reacted to the downside. There was a sharp decline below $88,000. There was a break below a bullish trend line with support at $86,450 on the hourly chart of the BTC/USD pair. The price even spiked below the $86,000 support. However, the bulls were active near the $85,250 zone. A low was formed at $85,282 and the price recently started an upside correction. There was a move above the 23.6% Fib retracement level of the downward move from the $90,318 swing high to the $85,282 low. The bears are active near $87,000. Bitcoin is now trading below $87,000 and the 100 hourly Simple moving average. If the bulls remain in action, the price could attempt more gains. Immediate resistance is near the $86,800 level. The first key resistance is near the $87,350 level. The next resistance could be $87,800 or the 50% Fib retracement level of the downward move from the $90,318 swing high to the $85,282 low. A close above the $87,800 resistance might send the price further higher. In the stated case, the price could rise and test the $88,000 resistance. Any more gains might send the price toward the $89,200 level. The next barrier for the bulls could be $90,000 and $90,500. Another Drop In BTC? If Bitcoin fails to rise above the $87,800 resistance zone, it could start another decline. Immediate support is near the $85,500 level. The first major support is near the $85,250 level. The next support is now near the $85,000 zone. Any more losses might send the price toward the $84,200 support in the near term. The main support sits at $83,500, below which BTC might accelerate lower in the near term. Technical indicators: Hourly MACD – The MACD is now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – $85,500, followed by $85,000. Major Resistance Levels – $87,800 and $88,000.