Bitcoin Faces $84,000 Test After Retreat From $87,000

Bitcoin (BTC) is testing whether it can reclaim $84,000 after retreating from an early-October move above $87,000, with Ali Martinez identifying the level as a potential trigger for a move higher. Bitcoin traded at about $83,500 after the pullback. Martinez linked $84,000 to the 50-period simple moving average and said a four-hour close above the level could confirm a move toward $93,000. The setup follows an earlier bounce from the bottom of Bitcoin’s price channel, when the 200-period moving average held. The prior move gained confirmation after Bitcoin closed above its 50-period moving average.