Bitcoin Price Today: BTC Price Rebounds to $87K as Bullish Ascending Channel Forms but Death Cross Keeps Bears in Control

After sliding toward the $80,000 range earlier this week, Bitcoin’s recovery has renewed short-term optimism. Still, broader market metrics—including exchange flows, ETF activity, and trend indicators—show a more cautious backdrop as traders weigh whether this rebound signals stabilization or merely another relief bounce.

Bitcoin Stabilizes After Sharp Recovery From $80K Region

Bitcoin (BTC) is trading near $87,555, recovering 1.34% over the past 24 hours, according to Brave New Coin’s Bitcoin Price Today Chart. The rebound from last week’s low around $80,600 reflects a shift in momentum after a rapid sell-off that tested liquidity across major spot and derivatives markets.

Bitcoin was trading at around 87,555, up 1.34% in the last 24 hours at press time. Source: Bitcoin price via Brave New Coin

While reviewing the BTC price structure directly, the 24-hour chart shows a steady but controlled recovery—supported by increasing spot volume but tempered by mixed derivatives positioning. Total trading volume reached $61.57 billion, yet open interest remains below its November peak, indicating reduced leverage participation.

Despite the rebound, BTC remains capped below a multi-week resistance structure that continues to influence both market sentiment and institutional positioning.

Bitcoin Faces Heavy Resistance at $88K–$90K

A major technical hurdle remains in the $88,000–$90,000 zone. This band has repeatedly rejected price advances for over a week and now represents a significant barrier for bulls.

Bitcoin faces strong resistance at $88K–$90K, with a failure to break higher potentially triggering another drop toward lower support levels. Source: @TedPillows via X

Trader Ted (@TedPillows) highlighted the importance of this region, noting, “$BTC is facing a lot of resistance around the $88,000–$90,000 zone. If BTC doesn’t break above this level soon, expect a sweep of the lows again.”

This resistance coincides with a death cross, formed in mid-November when the 50-day moving average crossed below the 200-day average. Historically, such signals often reflect slowing momentum—though Bitcoin’s previous death crosses during high-volatility phases led to short, rather than sustained, downturns. This mixed track record makes the current signal noteworthy but not decisive.

Short-Term Momentum: Bullish Ascending Channel Supports Price Stability

On lower timeframes, however, Bitcoin shows a more constructive pattern. According to market analyst Kamran Asghar (@Karman_1s): “The 1H chart is consolidating in a bullish Ascending Channel… currently trading near $86,960.”

Bitcoin’s 1-hour chart shows short-term bullish momentum, consolidating within an ascending channel around $86,960. Source: @Karman_1s via X

A direct review of the 1-hour chart confirms three clean rebounds from the lower channel band between $85,000–$86,000—a structure that suggests active spot buying rather than derivatives-driven noise.

The ascending channel has formed higher lows over multiple sessions, signaling that short-term buyers continue to defend the trend. If this pattern holds, BTC may again challenge the upper boundary and attempt to break through the $88,000 ceiling that has capped recent rallies.

Buyer Zone Shows Strength as Analysts Target $88,519

A more nuanced view comes from TradingView analyst AlexeyWolf, who observed a newly formed daily buyer zone created after heavy selling pressure. According to his analysis, “On the 2-hour timeframe, we have a sideways range with an active buyer initiative, and the nearest target is 88,519.”

Bitcoin’s daily buyer zone held firm, with the 2-hour chart showing active buying and a near-term target of $88,519 after support was tested between $86K–$87K. Source: AlexeyWolf on TradingView

Upon inspection, the 87,000–86,000 region shows dense volume clustering, consistent with prior accumulation phases visible on platforms like CryptoCompare and CoinGlass. Sellers attempted to break this cluster with higher volume, but the move stalled—supporting the argument that buyers remain structurally active.

This setup aligns with common trend-continuation behavior, where markets often retest mid-range resistance levels before choosing a direction. Many traders view $88,519 as the next key checkpoint for assessing whether momentum can build toward the upper resistance zone.

Final Thoughts

Bitcoin’s rebound to $87K has reintroduced short-term strength into the market, supported by a firm intraday structure and consistent buyer interest around key demand zones. However, the broader environment remains mixed as the death cross, institutional outflows, and rising exchange deposits continue to temper bullish momentum. For now, the $88K–$90K region stands as the defining battleground—where a decisive breakout would reinforce bullish sentiment and validate the ascending channel formation.

A rejection from this zone, especially with a drop below $86K, would invalidate the short-term recovery and reopen downside targets toward $82K–$80K. Bitcoin remains at a pivotal juncture, balancing signs of immediate strength with longer-term caution, as market volatility and investor sentiment shape the next major move.