Just now, $BTC suddenly surged for no reason—mainly because the inflation data that was just released came in far below expectations!
After the data release, the probability of a Fed rate hike in October dropped markedly, U.S. Treasury yields fell back, and U.S. stock index futures strengthened.
Technically, after BTC stopped falling, the lows kept being lifted. A 4-hour breakout on increased volume pushed through the descending trendline and it has re-entered above the short-term moving averages. The upside structure looks healthier than a move driven purely by short-covering.
Liquidity is also cooperating: spot ETFs have seen net inflows for nine consecutive trading days, while exchange BTC has seen net outflows over the same period—meaning the amount of spot supply available for short-term selling has been reduced.
However, $85,000 itself is a high-density liquidity/position area.
Once price holds above $85,000, first look at $86,500–$87,400; only with a breakout above $87,400 on increased volume will there be an opportunity to test $89,000–$90,000.
If it slips back to $84,000, treat it as a rebound within the range; if it breaks below $83,000, then this breakout will be considered a failure.
There will likely be another push afterward—possibly even more than one—but “another push” doesn’t mean it has already reversed. The real confirmation is whether BTC can turn $85,000 from resistance into support.
After the data release, the probability of a Fed rate hike in October dropped markedly, U.S. Treasury yields fell back, and U.S. stock index futures strengthened.
Technically, after BTC stopped falling, the lows kept being lifted. A 4-hour breakout on increased volume pushed through the descending trendline and it has re-entered above the short-term moving averages. The upside structure looks healthier than a move driven purely by short-covering.
Liquidity is also cooperating: spot ETFs have seen net inflows for nine consecutive trading days, while exchange BTC has seen net outflows over the same period—meaning the amount of spot supply available for short-term selling has been reduced.
However, $85,000 itself is a high-density liquidity/position area.
Once price holds above $85,000, first look at $86,500–$87,400; only with a breakout above $87,400 on increased volume will there be an opportunity to test $89,000–$90,000.
If it slips back to $84,000, treat it as a rebound within the range; if it breaks below $83,000, then this breakout will be considered a failure.
There will likely be another push afterward—possibly even more than one—but “another push” doesn’t mean it has already reversed. The real confirmation is whether BTC can turn $85,000 from resistance into support.