What to Know Bitcoin analyst EGRAG Crypto identifies $83,000 as the critical resistance level that could confirm a bullish breakout following retesting. Bitcoin’s recurring corrective pattern
Bitcoin analyst EGRAG Crypto identifies $83,000 as the critical resistance level that could confirm a bullish breakout following retesting.
Bitcoin’s recurring corrective patterns suggest potential recovery, with EGRAG projecting upside targets of $98,500 and $105,500 following breakout confirmation.
Failure to reclaim $83,000 could expose Bitcoin to further declines toward $74,000, a key support level highlighted by EGRAG.
Bitcoin could rally toward $105,500 if buyers reclaim a critical resistance level that has restricted recent recovery attempts. Crypto analyst EGRAG Crypto identified $83,000 as the threshold that could trigger a substantial bullish breakout.
According to an October 28 X post, the analyst expects Bitcoin to target $98,500 before potentially reaching $105,500, based on recurring corrective patterns and descending resistance on the daily chart. Bitcoin traded near $81,420 on the shared chart, placing the cryptocurrency below the analyst’s breakout threshold.
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EGRAG’s analysis identifies recurring corrective structures that previously appeared during Bitcoin’s price movements between June and August. These formations follow three stages, with the analyst marking each movement using numbers one, two, and three.
Earlier formations showed Bitcoin experiencing downward pressure before recovering from established support areas and advancing toward higher resistance levels. Similarly, the latest structure suggests another recovery could develop if buyers overcome the descending resistance trendline. Additionally, EGRAG emphasized that Bitcoin must record a daily close above $83,000 and successfully retest that level as support.
#BTC – TAKE $83K AND WE'RE HEADING TO $105K!
THE DAILY CHART IS SHOWING A POTENTIAL BULLISH BREAKOUT!
Repeating 1-2-3 corrective structures!
MY ROADMAP:
Daily close above $83K +… pic.twitter.com/bZluGSZFrS
— EGRAG CRYPTO (@egragcrypto) October 28, 2026
A confirmed breakout would establish $98,500 as the initial upside target, representing approximately 18.7% growth from $83,000. Beyond that level, the analyst projects $105,500, representing approximately 27.1% growth from the breakout threshold. Significantly, the higher projection aligns with a Fibonacci resistance level near $105,565 on the daily chart.
EGRAG also identified $74,000 as an important downside target if Bitcoin fails to reclaim $83,000, with the chart highlighting broader support between $74,000 and $75,000, where buyers previously defended price declines.
A retreat toward $74,000 from $83,000 would represent approximately 10.8% depreciation, while the analyst’s roadmap emphasizes sustained buying pressure and a successful resistance retest to confirm the projected recovery.
Bitcoin’s next directional movement therefore depends on whether buyers can establish support above $83,000. EGRAG maintains $105,500 as the higher bullish objective, while $74,000 remains the key downside level.
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The post Bitcoin Price Could Surge 27% to $105K as Analyst Reveals Key Breakout Level appeared first on 36Crypto.
