Bitcoin Bounces Off ETF Cost Basis: Crucial Support Tested
$BTC has successfully defended a major structural floor bouncing firmly off the institutional ETF cost basis near the $81.5k psychological and technical level
Key Technical Levels
• Current Support: ~$81.5k Held twice as reliable support after months spent trading below this zone
• Previous Resistance The May market rally previously stalled directly under this key cost basis
• Next Major Support The True Market Mean sits lower at $77.5k if downside pressure resumes
Will this successful retest of the ETF cost basis act as a springboard for a Q4 continuation or are we heading toward deeper macro reaccumulation
Source: On-Chain Technical Analysis
$BTC
#bitcoin #BTC #ETFs #BinanceSquare #elaouzi
$BTC has successfully defended a major structural floor bouncing firmly off the institutional ETF cost basis near the $81.5k psychological and technical level
Key Technical Levels
• Current Support: ~$81.5k Held twice as reliable support after months spent trading below this zone
• Previous Resistance The May market rally previously stalled directly under this key cost basis
• Next Major Support The True Market Mean sits lower at $77.5k if downside pressure resumes
Will this successful retest of the ETF cost basis act as a springboard for a Q4 continuation or are we heading toward deeper macro reaccumulation
Source: On-Chain Technical Analysis
$BTC
#bitcoin #BTC #ETFs #BinanceSquare #elaouzi