Bitcoin Tests Support Zone as Traders Watch $87,500 Target

Bitcoin is trading inside a support zone between $67,000 and $75,000 after declining from about $87,500. The price is near the upper end of the range, while traders are monitoring whether buyers return between $70,900 and $72,500.

The area includes a monthly breaker block near $72,500 and a weekly Imbalance Fair Value Gap, or IFVG, around $70,900. A breaker block is a price level formed during earlier market activity. An IFVG is a gap created during a strong price move that the market may later revisit.

The decline has returned Bitcoin to a price area linked to its rise to a 2024 all-time high. It has also filled part of an imbalance created during the 2024-2025 rally, meaning prices have retraced some of the gap formed during that advance.

The $70,900-$72,500 range is the main area being watched. Bitcoin could trade below the range temporarily before any recovery attempt, but a visit to the zone does not confirm a reversal. Buyers would need to lift the price and reclaim resistance levels for a move to $87,500 to remain in focus.

Bitcoin previously fell to about $58,000 before recovering to roughly $87,500 around September and October. The rejection from that high later returned the cryptocurrency to the broader support zone.

A sustained decline below $67,000 would weaken the current bullish setup and leave the correction open to further losses. If the support zone holds, the chart identifies $87,500 as the next major upside level.

Reviewed and fact-checked by Alex Panasenko on November 10.