Good Morning 84K BTC!
đ¨ BTC MARKET UPDATE / OCT 3
đ TA ⢠BTC remains inside a descending channel after the strong $76K â $87K impulse. ⢠This can still develop as a bull flag. ⢠Major resistance: $87.5K ⢠Near resistance: $85Kâ$86K ⢠Support: $82Kâ$83K ⢠Lower channel: ~$81K ⢠Two rejections at $87.5K also make this an important possible double-top area.
đ MACRO ⢠NFP: +29K â much weaker than expected. ⢠Unemployment: 4.2% ⢠Weak jobs data is generally supportive for BTC/Fed liquidity expectations. ⢠However, US 10Y yields initially dropped after NFP then reversed higher. ⢠USD also remains strong.
đŚ ETF ⢠Spot BTC ETF flows recently returned positive. ⢠September recorded roughly $2.65B in net inflows. ⢠Institutional demand remains supportive.
⥠KEY TRIGGERS
đ˘ Break descending channel + reclaim $85Kâ$86K = bullish momentum returning.
đĽ Break & hold $87.5K = stronger breakout confirmation â $90K next.
â ď¸ Lose $82Kâ$83K = bull flag weakening.
đ´ Break ~$81K lower channel = deeper correction risk.
BIAS: đĄ BULLISH HIGHER TIMEFRAME / SHORT-TERM CORRECTIVE
For now, BTC is consolidating after a strong impulse. We wait for the channel breakout or breakdown for our next major directional confirmation.
#Bitcoinâ
đ¨ BTC MARKET UPDATE / OCT 3
đ TA ⢠BTC remains inside a descending channel after the strong $76K â $87K impulse. ⢠This can still develop as a bull flag. ⢠Major resistance: $87.5K ⢠Near resistance: $85Kâ$86K ⢠Support: $82Kâ$83K ⢠Lower channel: ~$81K ⢠Two rejections at $87.5K also make this an important possible double-top area.
đ MACRO ⢠NFP: +29K â much weaker than expected. ⢠Unemployment: 4.2% ⢠Weak jobs data is generally supportive for BTC/Fed liquidity expectations. ⢠However, US 10Y yields initially dropped after NFP then reversed higher. ⢠USD also remains strong.
đŚ ETF ⢠Spot BTC ETF flows recently returned positive. ⢠September recorded roughly $2.65B in net inflows. ⢠Institutional demand remains supportive.
⥠KEY TRIGGERS
đ˘ Break descending channel + reclaim $85Kâ$86K = bullish momentum returning.
đĽ Break & hold $87.5K = stronger breakout confirmation â $90K next.
â ď¸ Lose $82Kâ$83K = bull flag weakening.
đ´ Break ~$81K lower channel = deeper correction risk.
BIAS: đĄ BULLISH HIGHER TIMEFRAME / SHORT-TERM CORRECTIVE
For now, BTC is consolidating after a strong impulse. We wait for the channel breakout or breakdown for our next major directional confirmation.
#Bitcoinâ
