Bitcoin in October: $83K level determines the trend
Bitcoin continues to trade near $84,500 following a strong bullish move since July, while technical data suggests that October may see a cooling phase or a natural correction after the recent gains
From a technical standpoint, the $82,900–$83,000 zone remains the most important support in the current phase; as long as the price holds above it, the short-term trend stays positive, with the possibility of retesting $88,600 then $92,200.
According to the chart, the price is currently trading above the 99-period moving average, but weakening momentum and the rejection of prices near $85,159 warrant caution—an explicit breakdown below $83,000 could pave the way toward $81,600 then $78,700
Bitcoin is still in an uptrend, but the $83K area will be the key: holding above it supports the continuation of the rally, while a break below could lead to a deeper correction
Bitcoin continues to trade near $84,500 following a strong bullish move since July, while technical data suggests that October may see a cooling phase or a natural correction after the recent gains
From a technical standpoint, the $82,900–$83,000 zone remains the most important support in the current phase; as long as the price holds above it, the short-term trend stays positive, with the possibility of retesting $88,600 then $92,200.
According to the chart, the price is currently trading above the 99-period moving average, but weakening momentum and the rejection of prices near $85,159 warrant caution—an explicit breakdown below $83,000 could pave the way toward $81,600 then $78,700
Bitcoin is still in an uptrend, but the $83K area will be the key: holding above it supports the continuation of the rally, while a break below could lead to a deeper correction
