Bitcoin Bulls Need Buying Support Near $80,000 to Hold Range
Photo: TokenPost
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.
Source: TokenPost
