- According to technical analysis, the breakout Bitcoin’s 200-day exponential moving average near $82,000 will confirm a switch from a downtrend to an uptrend.
- At the moment, the main driver of the upward movement of BTC is the influx of capital into American spot bitcoin ETF.
May 6, 2026 Bitcoin (BTC) rose up to an intraday high of $81,698, which became the cryptocurrency’s strongest level since late January.
The 200-day exponential moving average near $82,000 is now the only technical line separating the four-month downtrend from a confirmed bullish reversal. Assets in bitcoin ETF in the US exceeded $100 billion, with BlackRock’s IBIT alone exceeding $63 billion.
The move higher now depends on whether the 200-day exponential moving average holds or is broken over the next three trading sessions.
If the $82,000 level is broken cleanly, the upward trajectory won’t necessarily be impressive. The next resistance lies at the November-December lows around $84,000, then in the $90,000 zone, and then at the early January peaks around $97,000, where active selling has begun.
Bitcoin Price Analysis Data: Tradingview.com
The bearish scenario becomes irrelevant if the breakout fails. If BTC fails to test the 200-day EMA and falls below $80,000, the chart will return to a consolidation range, with the 50-day EMA at approximately $75,000 acting as dynamic support.
However, analysts don’t expect a significant decline this year and forecast growth by the end of the year. For example, at Standard Chartered lowered the target indicator by the end of 2026 up to $150,000, in Bernstein also settled on this figureEric Balchunas of Bloomberg Intelligence predicts the lower limit is $130,000.
At the end of April, experienced trader Peter Brandt presented a forecast to reach a level of $300,000 to $500,000 by September-October 2029, provided that the four-year halving cycle is maintained.
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