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Coinpaper 2026-08-29 12:48:26

Bitcoin Price Prediction: Can BTC Break $85K After August Short Squeeze?

Bitcoin traded near $77,700 on Saturday, Aug. 29, after a sharp pullback left BTC testing an important area above $73,880. The latest charts show that holding this support could keep a recovery toward $100,000 in play, while a deeper break would expose the $73,000-$74,650 demand zone. Bitcoin’s $73,880 MVRV Band Becomes the Key Long-Term Support Bitcoin remains above the -0.5 MVRV Pricing Band at $73,880, a level highlighted by Ali Charts as an important threshold for the next directional move. The chart places the MVRV mean near $100,052, making the $100,000 area the next major upside reference if BTC can stabilize above current support. Bitcoin BTC MVRV Pricing Bands. Source: Ali Charts (@alicharts) on X The MVRV pricing-band structure puts BTC between the -0.5 band at $73,880 and the mean band at $100,052. Above the mean, the chart shows additional valuation bands at $126,223 and $152,394, while the realized-price line sits much lower at $52,678 and the -1.0 band at $47,560. For the near-term Bitcoin price prediction, $73,880 is therefore the critical level. Holding above it would preserve the chart's broader structure and leave $100,052 as the next major valuation target rather than an immediate price objective. Confirmation would come from Bitcoin defending $73,880 and beginning to establish higher lows above that level. A sustained move below the band would weaken that scenario and shift attention toward lower support rather than the $100,000 target. BTC Breaks Its Rising Channel With $73,000-$74,650 Support in Focus A separate four-hour BTC/USDT chart from Sheldon Diedericks shows Bitcoin falling beneath the lower boundary of a rising channel after failing around the $80,000-$81,000 region. The chart identifies a potential support zone between $73,004 and $74,647 if selling pressure continues. Bitcoin BTC 73K-74.6K Support Zone. Source: Sheldon Diedericks (@Sheldino_D) on X The chart, timestamped Aug. 28, shows BTC near $77,371 after losing the ascending trend line. That break leaves the short-term structure weaker even though Bitcoin remains several thousand dollars above the highlighted demand area. The drawn scenario allows for an initial rebound around $78,000 before another decline toward roughly $74,000. From there, the projection shows a possible recovery toward $81,000. That orange path should be treated as a scenario rather than a confirmed forecast. For bulls, an early sign of improvement would be a recovery through the broken channel area around $79,000, followed by another test of $80,000-$81,000. If BTC instead continues lower, the $74,647-$73,004 zone becomes the main area to watch. A decisive break below $73,000 would invalidate the recovery setup shown on the chart and would also put Bitcoin below Ali Charts' $73,880 MVRV support. Conversely, defending that broader $73,000-$74,000 region would keep both chart-based scenarios aligned with the possibility of a larger rebound, with $100,000 remaining the more important medium-term target.

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