$BTC Bitcoin Struggles Below $84K as Traders Eye a Possible Rally to $90K
Bitcoin is trying to recover after dipping below $80,000, but the rebound is losing momentum near $82,000. Traders are now watching whether BTC can break above $84,000 and make a run toward $90,000.
At the time of the October 17 market snapshot, Bitcoin was trading around $81,731, down 2.44% from its weekly opening price.
$84K Is the Key Level to Watch
Bitcoin remains below its daily Bollinger Bands midpoint at $83,478, suggesting the recovery still faces resistance. The lower band sits near $80,592, making the $80,000–$80,600 zone an important area to watch if selling pressure returns.
A move above $84,000 could improve the short-term outlook. Market commentator Wealthmanager believes a breakout could open the door to $90,000.
However, not everyone is convinced. Crypto analyst Jesse Olson remains bearish on the daily chart, while other traders are waiting for Bitcoin to reclaim the $84,000–$84,200 range before turning more bullish.
Can Bitcoin Reach $90K?
For now, Bitcoin is caught between support near $80,000 and resistance around $84,000. A confirmed breakout could put $90,000 back in focus, while a drop below support could bring lower levels into play.
The next move will likely depend on whether buyers can push BTC above resistance or sellers regain control.
Key levels to watch:
$80,000: Important support
$83,478: Daily Bollinger midpoint
$84,000–$84,200: Key breakout zone
$90,000: Potential upside target
Bitcoin's next move remains uncertain, and traders will be watching these levels closely before making their next move.
$BTC
Bitcoin is trying to recover after dipping below $80,000, but the rebound is losing momentum near $82,000. Traders are now watching whether BTC can break above $84,000 and make a run toward $90,000.
At the time of the October 17 market snapshot, Bitcoin was trading around $81,731, down 2.44% from its weekly opening price.
$84K Is the Key Level to Watch
Bitcoin remains below its daily Bollinger Bands midpoint at $83,478, suggesting the recovery still faces resistance. The lower band sits near $80,592, making the $80,000–$80,600 zone an important area to watch if selling pressure returns.
A move above $84,000 could improve the short-term outlook. Market commentator Wealthmanager believes a breakout could open the door to $90,000.
However, not everyone is convinced. Crypto analyst Jesse Olson remains bearish on the daily chart, while other traders are waiting for Bitcoin to reclaim the $84,000–$84,200 range before turning more bullish.
Can Bitcoin Reach $90K?
For now, Bitcoin is caught between support near $80,000 and resistance around $84,000. A confirmed breakout could put $90,000 back in focus, while a drop below support could bring lower levels into play.
The next move will likely depend on whether buyers can push BTC above resistance or sellers regain control.
Key levels to watch:
$80,000: Important support
$83,478: Daily Bollinger midpoint
$84,000–$84,200: Key breakout zone
$90,000: Potential upside target
Bitcoin's next move remains uncertain, and traders will be watching these levels closely before making their next move.
$BTC