BTC was rejected three times in a row at the 87,000 dollar region (87,395 / 87,220 / 86,999) and formed a clear triple-top; then it was sold down to 80,400 dollars and is now trading around 81,900 dollars, just below the critical 82,300 dollar breakout level.
The fact that it turned from the same level three times indicates that 87,000 dollars is a strong supply zone and buyers are struggling to surpass it.
The tightening macro backdrop supports this: Fed minutes pointed to another rate hike by the end of the year, the 10-year US bond yield reached its highest level since 2002 at 5.36 percent, oil is above 100 dollars, and there are record outflows from Bitcoin ETFs.
Technically, 82,300 dollars is decisive: if it turns above the weekly close, 85,000 will be tested first, but the real challenge will be breaking the 87,000 triple-top; if it closes below 82,300, the triple-top will be confirmed and a decline towards 80,000, then 74,000 dollars is expected.
The October 14 CPI data will determine the direction in the short term.
Respect,
CryptoSignalAPP Team
The fact that it turned from the same level three times indicates that 87,000 dollars is a strong supply zone and buyers are struggling to surpass it.
The tightening macro backdrop supports this: Fed minutes pointed to another rate hike by the end of the year, the 10-year US bond yield reached its highest level since 2002 at 5.36 percent, oil is above 100 dollars, and there are record outflows from Bitcoin ETFs.
Technically, 82,300 dollars is decisive: if it turns above the weekly close, 85,000 will be tested first, but the real challenge will be breaking the 87,000 triple-top; if it closes below 82,300, the triple-top will be confirmed and a decline towards 80,000, then 74,000 dollars is expected.
The October 14 CPI data will determine the direction in the short term.
Respect,
CryptoSignalAPP Team
CryptoSignalAPP is the best crypto signal application.
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Get most profitable trading signals and information about market.
Keep your risk management.
Make profit !
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Download to Earn
Get most profitable trading signals and information about market.
Keep your risk management.
Make profit !
cryptosignalapp.com/download
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CryptoSignalAPP is the best crypto signal application.
Download to Earn
Get most profitable trading signals and information about market.
Keep your risk management.
Make profit !
cryptosignalapp.com/download
Download to Earn
Get most profitable trading signals and information about market.
Keep your risk management.
Make profit !
cryptosignalapp.com/download
Отказ от ответственности
Информация и публикации не предназначены для предоставления и не являются финансовыми, инвестиционными, торговыми или другими видами советов или рекомендаций, предоставленных или одобренных TradingView. Подробнее читайте в Условиях использования.