Bitcoin Bull Rally Faces Key Resistance at 87,374

Bitcoin’s price is testing key resistance levels once again, trading near $86,256 as bulls aim to break through the $87,000 to $87,374 barrier. The broader market structure remains bullish, supported by 13 bullish moving averages, but caution is warranted due to neutral oscillators and a recent spike in 1-hour volume.

On the 1-hour chart, Bitcoin has recovered from its Oct. 2 low near $83,500, but a large red candle and volume spike near $87,000 suggest potential friction. Support levels to watch include $85,900 to $86,000, followed by $85,000. A break above $87,374 could push prices toward $89,650, while another rejection may send Bitcoin back to $85,000.

The 4-hour chart reinforces the bullish outlook, with Bitcoin maintaining higher lows and higher highs. The Sept. 29-30 retreat stopped around $82,500, establishing a higher low before buyers pushed the price back toward the upper boundary. A break through $87,374 would target $89,650, while losing $85,000 could shift focus to $83,500 and $82,500.

The daily chart shows the cleanest bullish structure, with Bitcoin bottoming around $57,700 in early July and establishing a trading band between $75,000 and $87,000. While oscillators are neutral, moving averages overwhelmingly favor the bulls, with 13 of 15 readings bullish. A close above $87,374 would confirm a fresh range high, while a close below $82,500 would break the higher-low structure.