Bitcoin Holds Above Key Support Near $84,658.98
Bitcoin's price is currently focused on maintaining support above the Oct. 2 CRT Point of Control (POC) at $84,658.98. This level serves as a critical technical pivot, with the $87,220 range high acting as the primary upside reference as long as Bitcoin holds above the POC.
The Oct. 2 CRT range extends from $83,888 to $87,220, with the POC situated near the lower end of this range. Despite a brief drop below the POC during an Oct. 2 decline, Bitcoin has since recovered and shown repeated reactions above this support level on the one-hour chart, reinforcing its importance.
Several buying imbalances around the POC add further technical support to the $84,658.98 region. However, the strength of this support depends on Bitcoin avoiding sustained one-hour acceptance below the POC. A failure to reclaim the POC would weaken the current structure and shift focus toward the $83,888 range low.
On the upside, Bitcoin faces resistance between $86,000 and $86,600 before challenging the $87,220 range high. This upper boundary has seen repeated rejections, making it a key technical level where sellers have limited advances.