Bitcoin pulled back from a 24-hour high near $87,085 and spent Saturday boxed between $84,614 and $84,887. Every tracked moving average still points up, but the MACD has turned bearish, leaving traders watching $85,000 to $85,500 as the level that decides the next move.
Bitcoin traded between $84,614 and $84,887 on Saturday, Oct. 3, after a sharp rejection from a 24-hour intraday high of $87,085. The pullback has cooled the tape, but it hasn't broken the broader uptrend.
Bulls defend the low-$84,000s
On the one-hour chart, bitcoin fell from $87,219 to $83,841 before carving a narrow shelf between $84,400 and $84,700 on declining volume. That sets up $84,800 to $85,000 as the first upside trigger; a clean break on expanding volume would open the door to $85,500 and then $86,000 to $86,500. Losing $84,300 would expose $83,841 and then $83,500.
The four-hour picture tells a similar story: buyers stepped in around the low-$84,000s after the rejection from $87,219, and the candles since have produced consolidation rather than another leg lower. Bulls need to reclaim $85,000 to $85,500 to reopen a path toward $86,000 and eventually $87,219.
Daily structure still favors the bulls
The daily chart remains in consolidation following bitcoin's move from $74,913 to a high of $87,374, with buyers repeatedly stepping in around $83,000 to $84,000 while sellers have controlled the upper-$85,000s through $87,000. A daily close above roughly $85,500 to $86,000 would strengthen the case for another run at $87,374. The $82,555 level remains the key support level below; losing it would expose more downside room toward $81,000 and potentially $80,000.
Oscillators split while moving averages stay bullish
Most oscillators sit in neutral territory, but momentum and the MACD disagree: momentum reads 282.55 and signals bullishness, while the MACD level at 1,932.11 signals a bearish reading, reflecting the pullback from the local high. Every tracked moving average still signals bullish conditions, with the 10-period EMA at $83,964.49 sitting just below the current price and acting as the nearest support band.
Bitcoin's broader structure stays constructive as long as buyers keep defending the low-$84,000s, but another rejection near $85,000 to $85,500 followed by a break under $83,800 would shift short-term momentum toward the bears.
Source: Bitcoin News
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