Bitcoin Holds Above $80,800 While Bulls Target $85k

Bitcoin pushed past weekly gains on Friday and traded above $80,800, keeping traders focused on the $85,000 resistance level. Ethereum and XRP also joined the upward move, while the market braced for the upcoming United States Nonfarm Payrolls report. This jobs data will likely sway Federal Reserve interest rate plans, which often sparks sharp moves across crypto markets.

Technically, Bitcoin looks very strong on daily charts. It sits safely above major moving averages, including the 50 day, 100 day, and 200 day lines. The Relative Strength Index sits near 71, meaning the asset is currently in overbought territory. While this does not guarantee an immediate price drop, it shows the recent rally is getting stretched and buyers might lose some steam soon.

If Bitcoin clears $85,000 on a daily close, bulls will likely push for even higher prices. If the price pulls back, major support sits in a broad zone between $69,700 and $72,500. Traders should keep a close eye on the jobs report and watch how the market handles the $85,000 resistance level over the next few sessions.