#BTC Market Analysis 10/10
The rebound reached yesterday’s short-entry zone, but the take-profit level hasn’t been hit yet.
The price peaked at 83,499.9 last night, entering the 83,000–83,500 resistance zone identified yesterday, then pulled back to 82,241.5. The first target at 80,500 hasn’t been reached yet.
The price is currently around 82,500. Over the next 1–3 days, the bias remains toward shorting a rebound; don’t chase shorts at the current level.
1. The rebound hasn’t changed the weak structure
The daily EMA21 and 4-hour EMA21 are both around 83,100, and the price remains capped below them. Over the past 24 hours, the price rose about 1.1%, while BTC-denominated OI fell about 0.5%—a sign of short covering. It’s too early to say that buyers are stepping in to drive a breakout.
ETFs saw combined net outflows of about $729 million on October 7–8.
2. Keep waiting for the resistance zone today; don’t open a position in the middle
If you’re flat, wait for 83,000–83,500: if the price spikes higher, then a 1-hour candle closes back below 83,000 and a rebound fails to reclaim it, consider a small short position. Set a stop-loss at 84,400, with an initial target of 80,500, followed by 79,000.
If you’re already short, don’t add to your position here. There’s still support at 81,600–81,800; don’t assume a waterfall decline before that level breaks. If a 4-hour candle closes above 83,500 and the price holds that level on a retest, cancel this short setup.
⚠️ Personal market analysis, not investment advice.
The rebound reached yesterday’s short-entry zone, but the take-profit level hasn’t been hit yet.
The price peaked at 83,499.9 last night, entering the 83,000–83,500 resistance zone identified yesterday, then pulled back to 82,241.5. The first target at 80,500 hasn’t been reached yet.
The price is currently around 82,500. Over the next 1–3 days, the bias remains toward shorting a rebound; don’t chase shorts at the current level.
1. The rebound hasn’t changed the weak structure
The daily EMA21 and 4-hour EMA21 are both around 83,100, and the price remains capped below them. Over the past 24 hours, the price rose about 1.1%, while BTC-denominated OI fell about 0.5%—a sign of short covering. It’s too early to say that buyers are stepping in to drive a breakout.
ETFs saw combined net outflows of about $729 million on October 7–8.
2. Keep waiting for the resistance zone today; don’t open a position in the middle
If you’re flat, wait for 83,000–83,500: if the price spikes higher, then a 1-hour candle closes back below 83,000 and a rebound fails to reclaim it, consider a small short position. Set a stop-loss at 84,400, with an initial target of 80,500, followed by 79,000.
If you’re already short, don’t add to your position here. There’s still support at 81,600–81,800; don’t assume a waterfall decline before that level breaks. If a 4-hour candle closes above 83,500 and the price holds that level on a retest, cancel this short setup.
⚠️ Personal market analysis, not investment advice.