Expert Outlines Key Levels for Bitcoin's Movement This Week
Bitcoin started the week after multiple attempts to hold above $80,000, failing to establish it as solid support. According to Kirill Komalenkov, director of strategic communications at Bitbanker, the cryptocurrency's movement will depend on upcoming US macroeconomic data and Federal Reserve policy expectations.
Following failed attempts above $80k, the market returned to the $77,000–79,000 range. The nearest resistance zone is $80,000–81,500, and a confident break could signal further upward movement. If sustained above this level, the next target is $83,000–85,000, seen as the potential upper boundary for the week. Key support lies at $75,000–76,000. A break below could lead to a decline toward $72,000–73,000, with a potential drop to $70,000 if external conditions worsen.
The base range for the week is $74,000–83,000, but high volatility could widen it to $70,000–85,000. Bitcoin's dynamics are heavily influenced by US financial markets and Fed expectations, with the regulator's hawkish stance and persistent inflation limiting risk appetite. However, demand from US investors provides support. Upcoming US labor market data will be crucial: weak figures could boost hopes for less monetary tightening and aid Bitcoin's push above $80,000, while strong data combined with inflation could pressure the crypto market.
Sustained movement toward $85,000 requires a combination of factors: holding above $80,000–81,500, continued institutional demand, and reduced fears of further Fed tightening. Until these conditions are met, Bitcoin is likely to trade in a wide, volatile range, with $85,000 as an upper test under favorable conditions and $70,000 as a lower boundary in a stress scenario.
cryptonews.ru08/31 10:05
