🧱 $BTC hits the $87,000 wall for the third time
Bitcoin is hovering around $85,500 after another rejection at $87K, the third since September 23. Price is tightening into a triangle: increasingly higher lows against flat resistance. Once it breaks, volatility will follow.
📊 Levels I’m watching
• Resistance: $87,000–$87,570. A close above reopens the path to $90K.
• Support: $84,000, then $83,000. If those fail, $80K comes into play.
• Fear & Greed: 73 (greed) while price is stagnant. I don’t like that divergence.
• 24-hour liquidations: ~$163M, mostly longs.
🌎 Why it isn’t breaking out
The 10-year U.S. Treasury yield is at 5.32%, levels not seen since 2002, which weighs on risk assets even as the Nasdaq 100 hits a record high. On the positive side, spot BTC ETFs took in ~$241M last week.
🔧 $ETH is near $2,700, with resistance at $2,750. Glamsterdam activation on the Sepolia testnet was scheduled for today; mainnet still has no date. $BNB was the weakest among the major ones.
📅 Coming up: U.S. CPI on October 14 and the Fed decision on the 28th.
My take: I don’t chase breakouts in a range. I’m sticking with periodic buys (DCA) and waiting for a daily close outside the triangle before changing my plan.
What do you think comes first: $90K or $83K? 👇
#Bitcoin #BTC #Ethereum #CryptoMarket #DCA #Write2Earn
Bitcoin is hovering around $85,500 after another rejection at $87K, the third since September 23. Price is tightening into a triangle: increasingly higher lows against flat resistance. Once it breaks, volatility will follow.
📊 Levels I’m watching
• Resistance: $87,000–$87,570. A close above reopens the path to $90K.
• Support: $84,000, then $83,000. If those fail, $80K comes into play.
• Fear & Greed: 73 (greed) while price is stagnant. I don’t like that divergence.
• 24-hour liquidations: ~$163M, mostly longs.
🌎 Why it isn’t breaking out
The 10-year U.S. Treasury yield is at 5.32%, levels not seen since 2002, which weighs on risk assets even as the Nasdaq 100 hits a record high. On the positive side, spot BTC ETFs took in ~$241M last week.
🔧 $ETH is near $2,700, with resistance at $2,750. Glamsterdam activation on the Sepolia testnet was scheduled for today; mainnet still has no date. $BNB was the weakest among the major ones.
📅 Coming up: U.S. CPI on October 14 and the Fed decision on the 28th.
My take: I don’t chase breakouts in a range. I’m sticking with periodic buys (DCA) and waiting for a daily close outside the triangle before changing my plan.
What do you think comes first: $90K or $83K? 👇
#Bitcoin #BTC #Ethereum #CryptoMarket #DCA #Write2Earn