Bitcoin Price Forecast: Range-Bound with Hints of Potential Upside

Bitcoin’s price continues to hover near the $83,600 level, displaying a hesitant outlook amidst recent market recovery attempts. On daily charts, the price has been trapped within the middle and upper Bollinger Bands, suggesting slight bullish pressure within a range-bound market. The MACD has turned positive with green histogram bars and a bullish crossover – indicating possible upward momentum. However, Bitcoin’s inability to close above $87,000 after bouncing from $77,900 signals hesitation as volatility begins to compress.