Bitcoin is trading at $87,600 above the 2/8 Murray and below the 200 EMA after finding good support around $86,500. This level coincided with the bottom of the uptrend channel, which favors a recovery of the cryptocurrency.

If Bitcoin breaks decisively and consolidates above $87,983, it could be seen as an opportunity to take long positions, with a target at the top of the uptrend channel formed on the H1 chart around $91,000.

If Bitcoin continues to consolidate, we could expect a pullback to the key support level of $86,900. This level could give Bitcoin an upward momentum, and it could resume its bullish cycle.

With a sharp break below the uptrend channel and consolidation below $86,000, BTC could revive its bearish cycle, and the price could reach levels of $83,200 or even the 1/8 Murray around $81,750.

The Eagle indicator is showing a positive signal, so we expect Bitcoin to continue rising in the coming days and it could reach $91,500 or even the 3/8 Murray around $93,750.