⚠️ Another Miss at $87K. Bitcoin's $83K Cushion Is Coming Into View
Four pushes at the same ceiling, and each one fell shorter than the last.
Late September: $87.4K.
October 2: $87.3K.
October 5: about $87K.
October 6: $86.6K.
Now BTC is back at $85,015 on the 4H, sitting right on the $85K line we flagged yesterday. 👀
Fading highs like that usually mean buyers are running out of steam at the top. But the lows haven't cracked yet: $82.4K, then $83K, $83.9K, and about $84.9K on the latest dip, which price is testing right now. As long as that last higher low holds, the squeeze is still alive.
Lose $84.9K, though, and the pattern flips. Next in line is the $83.1K to $84K demand zone, the cushion that caught the October 2 flush. Below that, $82.5K is the strong low, with the $80K to $81.3K zone after it.
There's a catalyst on the calendar too. Minutes from the September Fed meeting, the one that delivered a rate hike, drop today at 2 p.m. ET. Any hint of more hikes ahead could add pressure. A softer tone could give bulls another shot at the wall.
The levels.
Reclaim $86.6K, and the $87.4K wall comes back into play.
Lose $84.9K, and the $83K to $84K cushion gets tested.
The ceiling keeps getting lower. Respect it until a close says otherwise.
Cushion holds, or does $83K give way? 🔥
Not financial advice.
$BTC
$ORCA
$BR
Four pushes at the same ceiling, and each one fell shorter than the last.
Late September: $87.4K.
October 2: $87.3K.
October 5: about $87K.
October 6: $86.6K.
Now BTC is back at $85,015 on the 4H, sitting right on the $85K line we flagged yesterday. 👀
Fading highs like that usually mean buyers are running out of steam at the top. But the lows haven't cracked yet: $82.4K, then $83K, $83.9K, and about $84.9K on the latest dip, which price is testing right now. As long as that last higher low holds, the squeeze is still alive.
Lose $84.9K, though, and the pattern flips. Next in line is the $83.1K to $84K demand zone, the cushion that caught the October 2 flush. Below that, $82.5K is the strong low, with the $80K to $81.3K zone after it.
There's a catalyst on the calendar too. Minutes from the September Fed meeting, the one that delivered a rate hike, drop today at 2 p.m. ET. Any hint of more hikes ahead could add pressure. A softer tone could give bulls another shot at the wall.
The levels.
Reclaim $86.6K, and the $87.4K wall comes back into play.
Lose $84.9K, and the $83K to $84K cushion gets tested.
The ceiling keeps getting lower. Respect it until a close says otherwise.
Cushion holds, or does $83K give way? 🔥
Not financial advice.
$BTC
$ORCA
$BR
