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Bitcoin Price Warning: BTC Could Be Trapped!

Bitcoin price briefly pushed back above $87,000 yesterday, but the move did not hold. At press time, BTC is trading below $85,000, around the mid-$84,000s, after reaching an intraday high above $87,100 on October 2.

That failed push is exactly the kind of setup analyst CryptoCon is watching.

His latest volume-profile chart shows Bitcoin entering a broad resistance zone between $84,000 and $98,000. In his view, BTC may have trouble escaping that area cleanly, and a rejection could eventually send price back into a much lower support range.

Bitcoin Is Running Into a Huge Resistance Zone

CryptoCon’s chart divides Bitcoin into three major volume areas.

The first and most important one right now is $84,000-$98,000.

This is where Bitcoin currently sits, and the chart shows a large amount of historical trading activity across that region.

That matters because high-volume zones often become difficult areas for price to move through. Many traders previously bought or sold there, which can create a lot of supply when BTC returns.

CryptoCon believes $84,000 marks the start of strong resistance, while a decisive move above $98,000 would change the picture completely.