Bitcoin Price Range Narrows to $2,300: Can BTC Break Above $85K This Week?

The Bitcoin price is still balancing itself,  remaining locked within a tight price range that’s testing investor patience. The leading cryptocurrency market in the world is exhibiting indications of consolidation. This follows a short decline below the $85,500 mark. Traders and experts are keeping a tight eye on Bitcoin as it remains stable inside a certain range, anticipating a breakout or collapse. The Bitcoin price range is once again a crucial battlefield for both bulls and bears due to the collision of technical levels and macro uncertainty. Will Bitcoin rise, or will it fall again?

BTC Caught in a Familiar Pattern: Can Bitcoin Break Free?

Bitcoin began this week struggling to maintain momentum. Following the failure to sustain gains over $86,500, Bitcoin fell below $85,500 before testing support at $83,200. This retreat has left Bitcoin trading in a sideways range, triggering speculation of an upcoming move. Can Bitcoin break free? That’s the question traders are now asking as price action tightens. 

Currently, BTC is hovering below $85,000 and beneath the 100-hourly simple moving average. A bearish trendline is forming near $84,800, acting as an immediate hurdle. For the market to regain bullish momentum, Bitcoin must close decisively above the $85,200 – $85,500 resistance zone. If it does, the top cryptocurrency market asset could retest the recent swing high of $86,400. Until then, the bitcoin price range between $83,200 and $85,500 remains firmly in place.

Rangebound and Restless: Will Bitcoin Break the $85K Barrier or Sink Lower?

The most immediate sign of Bitcoin’s consolidation is the steady bounce between the $83,200 and $85,000 levels. On the hourly chart, BTC’s price is facing rejection near $84,800, right at the descending trendline. A successful close above $85,150 would clear a major Fibonacci retracement level (61.8% of the recent decline), opening the door for a rally.

Chart 1: Bitcoin/USD chart, published on TradingView, April 17, 2025.

Meanwhile, the Bitcoin price is being squeezed as momentum fades. The hourly MACD shows signs of cooling bearish momentum, while the RSI is sitting near the neutral 50 mark. Traders interpret this as a sign of indecision and caution.

However, if Bitcoin fails to break above the key $85,000 zone, a renewed decline is likely to take place. Immediate downside support lies at $83,900. This comes with deeper support seen at $83,200 and then $82,200. A drop through those levels could send BTC as low as $80,800—the next major zone to watch. As the Bitcoin price range tightens, any sudden volume spike could trigger a sharp move in either direction.

Looking Ahead: Bitcoin Price Range May Not Hold for Long

While Bitcoin remains within a tight consolidation band, history shows that extended Bitcoin price range phases often precede volatile breakouts. With resistance firming at $85,500 and support around $83,200, a breach on either side could define BTC’s short-term path. If macroeconomic conditions remain favorable, the bulls might get their breakout. Otherwise, further downside retests could be ahead.

Final Thoughts: Is the Calm Before the Next Bitcoin Storm?

Bitcoin has entered another period of price stasis – but don’t be misled by the silence. The current Bitcoin price range represents a coiled spring scenario, where a small catalyst could lead to a big move. Volume, sentiment, and outside variables like macroeconomic news will determine whether there is an upside breakout or a more significant drop. For the time being, traders should keep a close eye on the $85,000 and $83,200 levels. It may not be long until the breakout or breakdown occurs.

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