🚨 Technical and sentiment analysis of Bitcoin and the crypto market in general 👇
Bitcoin is trading around $83,000, down 1.38% over 24 hours, while the total crypto market capitalization is down by more than 3%.
Sentiment officially remains in the greed zone, with a Fear & Greed score of 63, but it was at 70 yesterday and 74 on October 6.
👉 Greed is clearly starting to fade.
The main warning signal comes from spot Bitcoin ETFs, which recorded around $484.9 million in net outflows on October 7. Added to this are macroeconomic and geopolitical tensions, particularly rising oil prices and concerns related to Iran.
On the chart:
📉 1h RSI: ~35.8
📉 4h RSI: ~28.9
⚖️ 1D RSI: ~53.1
Short positions remain under pressure, while the daily structure is still relatively constructive.
⚠️ Key zone to watch: $82,501–82,555.
A confirmed break below this zone could pave the way to $79,271, especially if long positions continue to be liquidated.
Conversely, BTC needs to reclaim $83,398–84,523 to genuinely improve its momentum. Above that, $85,338–86,217 becomes the next important zone.
Another concerning signal: Open Interest is increasing while the price is falling. With about 64% of accounts positioned long, the market remains heavily exposed to another wave of liquidations.
Not yet capitulation. Not yet a confirmed recovery.
Bitcoin must regain its resistance levels before talking about a real return of confidence.
In short, always invest what belongs to you and what you are prepared to lose ✅