On the 7th of October, Bitcoin [$BTC] slipped below $85,000 as $BTC’s attempts to break past $87,000 were rejected by unwavering sellers. At the time of writing, Bitcoin had retreated to approximately $84,128.
Despite this recent decline in price, Bitcoin is still trading within the main range that has held the price since the last week of September.
Additionally, before the recent decline, this zone had previously acted as a strong support area, with buyers consistently stepping in to defend prices. This makes the current level a key test rather than a confirmed trend reversal.
