BTC is reacting from the lower boundary of the ascending channel around 79.8K–80K, leaving room for a short-term recovery.
If buyers hold this area, price could rebound toward 81.5K, followed by the upper-channel resistance around 82.3K–82.7K. That zone is likely to be the real test. A rejection there would keep the broader structure weak and could send BTC back toward 80K.
Macro still favors caution beyond the immediate bounce. The Fed kept rates at 3.75–4.00%, but described growth as strong and inflation as still elevated, while markets continue to price a meaningful chance of another hike in December.
The bearish follow-through weakens if BTC breaks and holds above 82.7K–83K.
Preferred scenario: hold 79.8K–80K → rebound toward 82.3K–82.7K → rejection → back toward 80K.
If buyers hold this area, price could rebound toward 81.5K, followed by the upper-channel resistance around 82.3K–82.7K. That zone is likely to be the real test. A rejection there would keep the broader structure weak and could send BTC back toward 80K.
Macro still favors caution beyond the immediate bounce. The Fed kept rates at 3.75–4.00%, but described growth as strong and inflation as still elevated, while markets continue to price a meaningful chance of another hike in December.
The bearish follow-through weakens if BTC breaks and holds above 82.7K–83K.
Preferred scenario: hold 79.8K–80K → rebound toward 82.3K–82.7K → rejection → back toward 80K.
Trade closed: target reached
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Join our group and unlock real-time Forex, gold, and crypto signals — sharp insights, fast alerts, and opportunities you don’t want to miss.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.