Bitcoin Price Pounds the $87K Wall as Bulls Refuse to Back Down

Bitcoin’s price has since climbed back toward $86,300, preserving the short-term recovery, although a large red candle accompanied by a volume spike at the chart’s far right introduces some caution. Support around $85,900 to $86,000 is the first line to watch, followed by $85,000. A close above $87,374 would clear the range ceiling, while another rejection puts $85,000 back on the ticker.

4H View: Bulls Hold Firmer Ground

The 4-hour chart keeps the bullish case on firmer ground. Bitcoin’s Sept. 18 low near $75,600 preceded a run to $87,374, and the market has subsequently traded largely between approximately $82,500 and $87,400.

Crucially, the Sept. 29-30 retreat stopped around $82,500, establishing a higher low before buyers marched bitcoin’s price back toward the upper boundary. Volume, however, has remained steady rather than expanding into the latest test. A break through $87,374 would open the door toward the $89,650 Fibonacci resistance level, while losing $85,000 would shift attention toward $83,500 and $82,500.

Daily View: Structure Keeps Bulls in the Driver’s Seat

The daily chart still tells the cleanest bullish story. Bitcoin bottomed around $57,700 in early July, built a base around $63,000 to $65,000 during August, and subsequently broke above $70,000 before establishing a broader $75,000 to $87,000 trading band.