Bitcoin Completes The Anticipated Correction To $80,000: Is $94,000 The Next Target?

Last week's analysis warned that Bitcoin (BTC) was approaching the $87,000 area, but that there was a high probability of a correction toward $80,000 before another attempt to break through higher resistance levels.

For that reason, after the previous bullish move, we positioned in the opposite direction, opening a short position around $86,000 with a clear target at $80,000.

The market went on to make precisely that move. Bitcoin corrected to $80,000, approaching the 50-day exponential moving average (EMA 50), an important technical area within the current structure.

Once the target was reached, the entire short position was closed, the profits were secured, and that same price level was used to increase spot Bitcoin holdings.

What Can We Expect From Bitcoin Now?

The main scenario remains bullish. Despite the recent correction, Bitcoin continues to show an upward trend structure on the daily timeframe, as the chart illustrates.

Another attempt by Bitcoin to break through resistance between $87,000 and $88,000 is seen as quite possible.

If Bitcoin manages to break that zone and consolidate above it, the next target under watch is the $92,000–$94,000 area.

The key will be how price behaves when it returns to $86,000–$89,000. This time, accumulation and buying demand are expected rather than distribution, allowing a former resistance area to turn into support.