Bitcoin Hovers Near $85K as Traders Debate Possible Correction or Extended Rally

Bitcoin rebounded from $74K to nearly $86K, fueled by diminished whale selling pressure observed on Binance this month. Whale inflows on Binance dropped by $3 billion, mirroring behavior from last year’s correction, reducing market volatility risk. Bitcoin moved up 6% last week, reaching $85K briefly before settling at slightly lower levels. ETHNews analysts remain divided on what comes next. The advance off the Apr lows looks more corrective than it does impulsive (to borrow from the lexicon of EW traders) $BTC BTW, I’ve never used EW to trade and would never consider doing so. If it works for you, all the more power to you. Please do not reX this with wave counts pic.twitter.com/yg5XmV1HgZ — Peter Brandt (@PeterLBrandt) April 13, 2025 Veteran trader Peter Brandt believes the current rise appears more corrective than impulsive, suggesting a path toward $76K if a bearish rising wedge on the 4-hour chart is confirmed. Coinbase researchers take a different view. They see renewed buying interest from long-term holders who had been sellers since December, when Bitcoin rose above $100K. Source: Coinglass These observers consider BTC near fair value, which may entice new entry, though no clear jump in price has followed so far. Stockmoney Lizards echoes the bullish side, pointing to a possible climb if Bitcoin reclaims $85K with momentum. The analyst also highlights $72K–$74K as a potential zone for adding more positions. #Bitcoin One green week doesn’t make a trend, but here’s what actually matters: We’re at a critical junction – testing both the descending trendline (since Dec) and finding support at the weekly EMA50 (~77.8K). This compression zone is setting up for a big move. Might see… pic.twitter.com/iWbdtxPNtt — Stockmoney Lizards (@StockmoneyL) April 13, 2025 Michael van de Poppe, another market watcher, stresses that Bitcoin’s RSI divergence remains bullish on higher timeframes. He states that maintaining support above $80K could help push BTC higher. Given that there’s a strong bullish divergence on #Bitcoin, the only thing we’ll need to see is Bitcoin holding above $80K. If that happens, a breakout of this downtrend is on the horizon. pic.twitter.com/mO4uvzeMC8 — Michaël van de Poppe (@CryptoMichNL) April 13, 2025 Meanwhile, Coinglass data identifies $86K, $84K, and $82.7K as short-term liquidity zones. These levels may attract price action and cause sudden shifts in Bitcoin’s direction. Source: Coinglass As a result, the market faces two scenarios. Brandt’s view favors caution, while Coinbase and other observers maintain that BTC still holds appeal at current prices. Each camp looks for confirmation from technical patterns and buying trends. Bitcoin Demand Grows as Whales Hold Back Sales on Binance Bitcoin is trading near $86K after recovering from a $74K low, and new data indicates that large investors, often called whales, are not selling on Binance at the same pace as before. Over the past month, whale inf in a formal or creative style, maintaining a 500 word count. You must only respond with the modified content. Change the tone of my title “Bitcoin rebounded from $74K to nearly $86K, fueled by diminished whale selling pressure observed on Binance this month. Whale inflows on Binance dropped by $3 billion, mirroring behavior from last year’s correction, reducing market volatility risk. Bitcoin moved up 6% last week, reaching $85K briefly before settling at slightly lower levels. ETHNews analysts remain divided on what comes next. The advance off the Apr lows looks more corrective than it does impulsive (to borrow from the lexicon of EW traders) $BTC BTW, I’ve never used EW to trade and would never consider doing so. If it works for you, all the more power to you. Please do not reX this with wave counts pic.twitter.com/yg5XmV1HgZ — Peter Brandt (@PeterLBrandt) April 13, 2025 Veteran trader Peter Brandt believes the current rise appears more corrective than impulsive, suggesting a path toward $76K if a bearish rising wedge on the 4-hour chart is confirmed. Coinbase researchers take a different view. They see renewed buying interest from long-term holders who had been sellers since December, when Bitcoin rose above $100K. Source: Coinglass These observers consider BTC near fair value, which may entice new entry, though no clear jump in price has followed so far. Stockmoney Lizards echoes the bullish side, pointing to a possible climb if Bitcoin reclaims $85K with momentum. The analyst also highlights $72K–$74K as a potential zone for adding more positions. #Bitcoin One green week doesn’t make a trend, but here’s what actually matters: We’re at a critical junction – testing both the descending trendline (since Dec) and finding support at the weekly EMA50 (~77.8K). This compression zone is setting up for a big move. Might see… pic.twitter.com/iWbdtxPNtt — Stockmoney Lizards (@StockmoneyL) April 13, 2025 Michael van de Poppe, another market watcher, stresses that Bitcoin’s RSI divergence remains bullish on higher timeframes. He states that maintaining support above $80K could help push BTC higher. Given that there’s a strong bullish divergence on #Bitcoin, the only thing we’ll need to see is Bitcoin holding above $80K. If that happens, a breakout of this downtrend is on the horizon. pic.twitter.com/mO4uvzeMC8 — Michaël van de Poppe (@CryptoMichNL) April 13, 2025 Meanwhile, Coinglass data identifies $86K, $84K, and $82.7K as short-term liquidity zones. These levels may attract price action and cause sudden shifts in Bitcoin’s direction. Source: Coinglass As a result, the market faces two scenarios. Brandt’s view favors caution, while Coinbase and other observers maintain that BTC still holds appeal at current prices. Each camp looks for confirmation from technical patterns and buying trends. Bitcoin Demand Grows as Whales Hold Back Sales on Binance Bitcoin is trading near $86K after recovering from a $74K low, and new data indicates that large investors, often called whales, are not selling on Binance at the same pace as before. Over the past month, whale inf” for a more friendly approach. Keep the content length about the same. You must only respond with the modified content.