Analyst: Focus on the $82,500 support level and bargain hunting opportunities

According to PANews news on October 3, analyst Ali Charts wrote that BTC’s previous rise to around $87,000 was suppressed, not only because the “giant whale” took profits on the way to the price increase (sold more than 30,000 BTC), but also because $87,000 is exactly at the top of the channel that has been suppressing the price of Bitcoin for more than two weeks. Currently, Ali Charts is focusing on the support area on the lower edge of the BTC channel around $82,500. If BTC falls back to this level and the whales are observed to be accumulating again, it could be a signal for them to consider buying the dip and look for a follow-up rally to test resistance near $87,000.