Bitcoin struggles below $82,000 as traders eye $84,200 breakout for bullish reversal

The Bitcoin price hovered close to $81,000 on October 16, rebounding from a weekly low at $79,800. The leading cryptocurrency tested its 50-day moving average, currently positioned at $81,279, as traders monitored potential technical support in this range. Trader Ardi, a well-followed figure in the crypto trading community, noted that Bitcoin faces clear resistance at $84,200. This level represents a necessary breakout point for Bitcoin to shift out of its short-term bearish structure. Ardi stated his intention to look for buying opportunities only if the price can convincingly breach this threshold. Repeated attempts to recover since Bitcoin’s rise to $87,000 in September have instead resulted in a series of lower highs, reinforcing concerns about persistent selling pressure.

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