Bitcoin has been trading in a steady downward channel since reaching its $87,000 high on September 21, 2026, on a three-day chart. The pattern has several characteristics of a bullish flag, including a slightly declining consolidation and lower trading volumes, but its duration of more than four weeks prevents it from being classified as one in the strict sense. A close above $84,900 would confirm a break of the channel resistance and could pave the way for $86,000 to $87,400, followed by $88,300 and the $92,000 to $93,000 zone. Conversely, a close below $79,500 would invalidate the bullish scenario and could send Bitcoin toward $76,000, amid net outflows of $635.6 million from US spot Bitcoin ETFs on October 22.
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