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Bitcoin fell to around $85,600 after facing renewed resistance near $87,000, marking its third failed attempt to break above that level since Sept. 23, according to CoinDesk.
Alex Kuptsikevich, chief market analyst at FxPro, said BTC has been posting higher recent lows but has yet to secure upward momentum. As the price approaches the apex of a triangle formed by horizontal resistance and rising support, a break from the pattern could trigger greater volatility, Kuptsikevich said.
CoinDesk said a sustained move above $87,000 could signal that selling pressure around that price zone has been absorbed, potentially opening room for a climb toward an eight-month high.