Bitcoin Bulls Need Buying Support Near $80,000 to Hold Range

Bitcoin (BTC) was retesting the upper boundary of a trading range near $80,000 on Oct. 12 at 10:25 a.m. ET (14:25 UTC), putting the level at the center of the market’s next technical test.

Bitcoin previously broke above the range’s upper boundary and is now testing whether that structure remains valid. A move back below the range followed by a failure to reclaim it would signal that the breakout had failed and weaken the market structure.

The market has already experienced approximately $2 billion in liquidations. Another sharp decline could indicate weakness rather than a healthy adjustment.

Buying support near $80,000 will be important for Bitcoin’s next move. If buying support near $80,000 fails, Bitcoin could retreat toward the $76,000-to-$78,000 range.

The setup follows earlier market focus on the Bitcoin $80,000 support zone.