Bitcoin price analysis: Will BTC surpass the $83K resistance?

Bitcoin has been consolidating for a week. While hovering around $83,000, it shows hesitation. Ranges resulting from fluctuations with lower price activity point to short-term breakouts.
BTC is trading at $83,572, and the bears are losing control. A breakout could occur due to price stability and reduced volatility.
Bitcoin price analysis
The 4-hour Bitcoin chart shows an ascending triangle with a strong resistance level at $83,400. This pattern usually indicates a continuation of the trend if broken above the resistance.
On a technical note, shorter MACD charts indicate less negative momentum. The MACD and signal lines suggest an early bullish crossover. The increase in buying pressure that may push prices higher may also indicate this condition.
Bitcoin is testing the 50 EMA, which has been resistance for many sessions. Closing above this moving average may be positive.
Bitcoin may reach $85,256 and $88,595 after breaking $83,400. It could reach $92,070.
Increased cash flows from the American Bitcoin Fund
The total flow was -$870.39 million last week compared to $12.66 billion traded. The daily flow of Bitcoin ETFs was -$3.56 billion last month and -$68.41 million on March 14th.
Overview of the Bitcoin derivatives market
Due to profit-taking from supported positions, the open interest for Bitcoin futures contracts has decreased. It remains high at 49.74 billion dollars.
Funding rates are marginally positive at 0.0062%, reflecting some optimism among market participants.
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