Analyst says Bitcoin has built support above $83,300 as whales add 14,335 BTC

Bitcoin has established a key support zone between $83,300 and $84,600, according to analyst alicharts, cited by BlockBeats on Oct. 6. URPD data shows that 1.59 million BTC changed hands in that range, a sign that buyers may have a defensible level there. The analyst also said Bitcoin whales have accumulated 14,335 BTC since Oct. 1, with the position valued at about $1.22 billion based on the figures in the report. In alicharts’ view, if Bitcoin can hold this support area and then break above $86,700, the market may face limited selling pressure until roughly $105,000. The call centers on two points from the report: concentrated turnover in the low-$84,000 area and continued accumulation by large holders over the past few days. Together, those data points form the basis for the analyst’s argument that Bitcoin may be building strength for another move higher, though the scenario depends on support holding and resistance at $86,700 being cleared.