BTC makes a precise move downward, hitting longs 📉 Testing the $80K mark—is it about to break below $80K?
Strike while you're down.
Hello, friends. Last night, while a lot of people were attending Token2049 in Singapore, Bitcoin continued its tradition of dropping whenever there’s a conference. It broke below the narrow-range support at 83,000, where it had been trading sideways for a long time. In the early hours, it fell straight to around 80,300 and is now testing whether it can break below 80,000. This is entirely in line with our earlier call that Bitcoin would make a precise move downward and break below 83,000 on October 8 or 9.
The entire decline has been a slow grind—there were no violent, sudden wicks down. Instead, it fell slowly, one candlestick at a time, which made the move quite deceptive for bulls.
As a result, many longs were stopped out or liquidated in this drop. The short position around 86,000 that we shared publicly captured all the gains from this move. As of now, its unrealized profit has peaked at 6,000 points.
Our chief analyst is currently at the F1 venue in Singapore 🇸🇬.
Support below: 79,000–77,000. You can consider entering a long position.
Resistance above: 84,800–85,800. You can consider entering a short position.
Strike while you're down.
Hello, friends. Last night, while a lot of people were attending Token2049 in Singapore, Bitcoin continued its tradition of dropping whenever there’s a conference. It broke below the narrow-range support at 83,000, where it had been trading sideways for a long time. In the early hours, it fell straight to around 80,300 and is now testing whether it can break below 80,000. This is entirely in line with our earlier call that Bitcoin would make a precise move downward and break below 83,000 on October 8 or 9.
The entire decline has been a slow grind—there were no violent, sudden wicks down. Instead, it fell slowly, one candlestick at a time, which made the move quite deceptive for bulls.
As a result, many longs were stopped out or liquidated in this drop. The short position around 86,000 that we shared publicly captured all the gains from this move. As of now, its unrealized profit has peaked at 6,000 points.
Our chief analyst is currently at the F1 venue in Singapore 🇸🇬.
Support below: 79,000–77,000. You can consider entering a long position.
Resistance above: 84,800–85,800. You can consider entering a short position.