BTC Double Bottom Pattern Suggests Potential Move Toward $114,000

Key Insights:

• Bitcoin price fell from the $87,000 area after facing resistance near the top of its recent range.
• Whale-held Bitcoin declined by about 30,000 BTC, worth roughly $2.52 billion, over the past week.
• A 2026 double-bottom chart places Bitcoin’s measured target in the previous all-time-high zone.

Bitcoin price held near $85,000 on Oct. 4 after failing to sustain a move toward $87,000. Analysts identified $87,000 to $87,500 as a key resistance region following Bitcoin’s recovery from its mid-2026 lows.

On-chain data also showed large Bitcoin holders reducing their combined balances. Separately, a long-term chart presented a possible double-bottom structure, although its projected $114,000 target requires qualification.

Bitcoin Price Faces Resistance Near $87,000

Bitcoin price climbed toward $87,000 before reversing part of the move. Ali Charts identified $87,000 as the upper boundary of a channel that has rejected Bitcoin for more than two weeks. The analyst placed the lower boundary near $82,500 and identified that level as the next downside area if the rejection continues.

The chart shows Bitcoin price trading around $84,650 after the latest pullback. A move toward $82,500 would bring the price back toward the channel’s lower section. Ali Charts said renewed whale accumulation around that area would confirm a rebound toward $87,000.