Bitcoin Price Breakout Looms as Analysts Eye $90K, Then $100K

Key Insights Bitcoin price approaches a potential breakout as analysts identify $83,300 as a key resistance level. Analysts target $90,000 and potentially $100,000, although selling pressure near $87,000 threatens the recovery. Whale accumulation and rising buying activity support bullish expectations, but weak spot demand raises concerns. Bitcoin price traded near $82,000 on Oct. 18 as several market analysts identified a potential breakout setup. However, resistance above $83,000 and weak underlying spot demand kept the recovery uncertain. CoinMarketCap data showed Bitcoin trading below $83,300, a threshold closely watched by technical analyst Merlijn The Trader.

Source: The Coin Republic