Bitcoin Extends Rally as BTCUSD Climbs to Fresh Highs Not Seen Since January

BTCUSD extended its powerful rally on Monday, gaining more than 4% during the Asian and early European sessions after surging 6% on Friday.

Following a brief period of consolidation over the weekend, bullish momentum resumed as Bitcoin built on Friday’s close above the key psychological $80,000 mark. The advance was further reinforced by breaks above two critical resistance levels at $82,331, representing the 61.8% Fibonacci retracement of the 97,572/57,673 decline, and $82,821, the May 6 peak.

A sustained move above the 55-week moving average at $81,550 and the former top at $82,821 points to the formation of a longer-term bottom and strengthens bullish reversal signals for the broader downtrend from $126,299 to $57,673. A weekly close above the latter level would further validate the recovery scenario and shift attention toward higher targets.

The next significant hurdles are located at the 100-week moving average near $89,467 and the major psychological barrier at $90,000. The positive outlook remains supported by multiple bullish moving-average crossovers and improving momentum indicators.

However, overbought conditions on daily charts suggest the rally could face near-term consolidation or pullbacks. Any corrective moves are expected to find strong support around the former breakout level at $82,821, which has now turned into a key support zone.

Res: 85500; 86320; 89467; 90000
Sup: 83888; 82821; 81550; 80000