#BitcoinSurpasses$83,000
• It's a recovery, not a new high. BTC remains well below its year-ago level.
• $83K sits inside a resistance zone. Analysts have pointed to roughly $84,000–$86,600 as the area that has capped gains since early October.
What's pressuring it:
• Inflation data that revived talk of a rate hike
• Back-to-back weeks of ETF outflows
What to watch this week:
• A daily close above $83K, not just an intraday spike
• The Fed's October meeting and Meta/Tesla earnings, which can shift risk appetite
A touch is not a trend. Wait for a close and for ETF flows to turn before calling this a breakout.
#bitcoin #BTC #Crypto
• It's a recovery, not a new high. BTC remains well below its year-ago level.
• $83K sits inside a resistance zone. Analysts have pointed to roughly $84,000–$86,600 as the area that has capped gains since early October.
What's pressuring it:
• Inflation data that revived talk of a rate hike
• Back-to-back weeks of ETF outflows
What to watch this week:
• A daily close above $83K, not just an intraday spike
• The Fed's October meeting and Meta/Tesla earnings, which can shift risk appetite
A touch is not a trend. Wait for a close and for ETF flows to turn before calling this a breakout.
#bitcoin #BTC #Crypto