Bitcoin's price action recently tapped a three-day low nearing $84,000 before rebounding. Analysts warn that while there’s a target of $90,000 in the short term, the support around $83,000 is precarious. Mark Cullen, a well-known analyst, expressed skepticism about the safety of the $83,000 level, suggesting that it may be tested before any bullish movement towards $90,000. Cullen and others anticipate a price range of $83,000 to $86,000 to hold over the Easter weekend, expecting volatility to return as market positions might get squeezed. In a broader view, trader Rekt Capital noted that Bitcoin has decisively broken out of a long-term downtrend and has retested this as support, which could indicate further bullish momentum if confirmed. Overall, market movements remain influenced by upcoming significant news, which could propel prices in either direction, alongside the stable structure of recent trading ranges.

Source 🔗