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Bitcoin price tests critical support with potential bounce or breakdown ahead

Technical Signals
08 Oct 2026
Crypto Daily
View Source
Neutral
Bitcoin price tests critical support with potential bounce or breakdown ahead

Bitcoin's price is currently testing a key support level within a tilted bull flag pattern, suggesting a possible bounce back towards previous highs. While the price has shown three touches on the lower channel line, indicating a valid bull flag, there remains a risk of a breakdown to around $81,000. The 50-day simple moving average (SMA) may provide additional support if the price falls further. Investors are watching closely to see if Bitcoin can hold this support and continue its rally, as the next few days are critical for maintaining the bullish trend.

Bitcoin trades at Rp1.479.657.199 on Pluang as of Oct 08, 2026 21:52 WIB, showing a slight 0.38% decline in the past day. Market participants on Pluang are more inclined to buy, with 63% of order activity favoring purchases. Typical holding time for Bitcoin on the platform is 111 days, indicating a moderate-term investment horizon among users.

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