Bitcoin price has fallen below $82,000 following a hotter-than-expected U.S. inflation report, while its daily chart still places the Supertrend support line below the market near $79,664.
TradingView’s $BTC /USDT daily chart showed Bitcoin at $81,830.60 on Oct. 14, down 1.61% from the session’s opening price of $83,169.01. The session ranged between $81,588.88 and $84,146.72, placing Bitcoin close to its daily low.
The weekly chart, recorded a minute later, showed a price of $81,910.01 and a decline of 2.22% from the weekly opening level. Both timeframes placed Bitcoin below $82,000 after its latest attempt to hold above $84,000.
U.S. inflation rises as Bitcoin retreats from $84,000
The Bureau of Labor Statistics reported that consumer prices increased 0.6% in September, following a 0.4% increase in August. Annual headline inflation reached 3.7%, up from 3.4% a month earlier.
The agency said gasoline prices rose 9.1% during September and accounted for more than half of the monthly increase. Core prices, which exclude food and energy, rose 0.3% over the month and 2.6% over the year.
The headline reading exceeded economists’ 3.6% forecast. As per CME FedWatch, the probability of an October interest rate increase was roughly 44%–49% after the release, compared with 22% beforehand.
The same report placed the two-year Treasury yield near 4.9% and the 10-year yield around 5.3%. The publication also reported declines in U.S. stocks, with the S&P 500 losing 0.6% and the Nasdaq falling 0.8%.
Daily Supertrend remains below Bitcoin at $79,664
TradingView’s daily chart placed the Supertrend line at $79,663.52, with its green line remaining below Bitcoin’s price. At $81,830.60, Bitcoin was about $2,167, or 2.7%, above that indicator level.
The chart showed a strong advance from the low-$60,000 region in August, followed by trading in the upper-$70,000 range through much of September. A later move carried Bitcoin toward $87,000 before the latest retreat into the low-$80,000 range.
The daily Aroon readings were less favorable than the Supertrend position. Aroon Up stood at 14.29%, while Aroon Down was 57.14%, showing that the latest 14-period low was more recent than the latest high.
Together, the displayed indicators presented a mixed setup: Bitcoin remained above its daily Supertrend line, while Aroon Down exceeded Aroon Up by 42.85 percentage points. The price decline had narrowed the distance to the green support line without crossing it.
The daily session high of $84,146.72 also sat within the resistance area identified by Snyder. He said repeated rejections around $84,000 supported his decision to take a short position.