Bitcoin tests $83k-$85k as MACD turns bullish

Bitcoin briefly rose above $81,000 in early May before pulling back. The price has gained about 10% over the past month after a period of consolidation above $72,000 and is now approaching a resistance zone between $83,000 and $85,000.

Trading activity picked up in the first two weeks of May, with 24-hour volume up roughly 4%. The 200-day moving average lies in the $83,000-$85,000 band; a sustained break above that band would put $89,000, $94,000 and the $100,000 psychological level into view. If price fails to hold that area, demand zones near $75,000 and $73,000 and the 100-day moving average near $72,000 would be relevant support levels.

The weekly MACD crossed to a bullish signal on April 13. Since that crossover, Bitcoin has risen about 15%. Historical weekly MACD crossovers have preceded larger rallies: after the October 2023 crossover the price rose roughly 147%, after October 2024 it rose about 75%, and after the May 2025 signal it rose about 35%.

On-chain miner metrics show limited selling pressure. The Miners’ Position Index fell below -1.0 during the February low near $60,000, a level historically associated with miner accumulation. The index later recovered but remains below zero. Market watchers are monitoring whether the index moves above 0.5, a shift that would indicate increased miner distribution.

Net realized profits reached $207.56 million as price moved above $80,000, the highest level recorded in the current cycle. Elevated net realized profits reflect increased profit-taking by holders as prices rise.

Market participants are watching for a confirmed weekly close above $81,000 and a successful retest of that level as support. Key variables to track include whether trading volume maintains its rise, whether miners shift from accumulation to distribution, and whether price can clear and hold above the 200-day moving average.