Bitcoin Faces $84,000 Test After Retreat From $87,000

Bitcoin (BTC) is testing whether it can reclaim $84,000 after retreating from an early-October move above $87,000, with Ali Martinez identifying the level as a potential trigger for a move higher.

Bitcoin traded at about $83,500 after the pullback. Martinez linked $84,000 to the 50-period simple moving average and said a four-hour close above the level could confirm a move toward $93,000.

The setup follows an earlier bounce from the bottom of Bitcoin’s price channel, when the 200-period moving average held. The prior move gained confirmation after Bitcoin closed above its 50-period moving average.

Bitcoin also faces a supply zone near $84,569. Nearly 800,000 BTC were previously traded around that price, creating a concentration of activity that may add resistance as the market tests the level.

Large holders bought more than 16,000 BTC over about five days, bringing their holdings to roughly 5.26 million BTC. Martinez said the accumulation puts a rebound in focus, but Bitcoin must first move through the supply zone.

Other analysts have identified separate technical signals. Scient described Bitcoin as having what they called the cleanest cup-and-handle pattern and set a $105,000 target. Toz said Bitcoin could mimic its late-2022 pattern of a deep decline followed by a major advance.

Crypto Rover highlighted Bitcoin’s 50-day moving average climbing above its 100-day moving average. The analyst pointed to the previous appearance of that pattern, after which Bitcoin gained more than 500%.

That pattern is distinct from a classic golden cross, which occurs when the 50-day moving average rises above the 200-day moving average. Bitcoin printed that signal in September 2025 while trading just below $110,000 and reached a record above $126,000 about a month later.