Bitcoin has demonstrated resilience, holding key support levels while showing signs of potential recovery. Renewed optimism regarding possible Federal Reserve rate cuts is fueling renewed buying interest and pushing Bitcoin’s price towards new highs. While it currently trades around the $87,729 mark after a peak of $89,209 earlier this week, the short-term outlook remains cautious with fluctuations in the past 24 hours, ranging between $86,215 and $88,097. However, over longer timeframes, Bitcoin has experienced a decline of 3.5% last week and 15.1% in the last two weeks. This suggests a cautious approach for short-term gains. Experts anticipate that if Bitcoin can break through crucial resistance levels on its technical chart, we could see it test $94,000 and beyond. On the other hand, if it fails to hold above current support, the price may drop to the $82,000-$80,500 range again.