Thursday gave us the cleanest stress test this month: a 6.3% PPI print, the hottest wholesale inflation in four years, and Bitcoin still couldn't be pushed through $80k. Every probe below that level was bought within hours, and price is back chopping between $81.5k and $82.2k.
That reaction matters more than the candle shape. The $79.7k low held, nearly $950M of leveraged longs got flushed out, and perp funding has reset from overheated to negative — shorts are now the crowded side. Spot ETF flows even flipped positive on Thursday (+$5.06M after a $261M Wednesday bleed), and wallets holding 10-10,000 BTC just hit a record 20,338.
Setup-wise: support is the $79.8k-$80k buyer wall, resistance is $82.5k-$83k which capped every rally this week. A weekend close above $83k opens $84k, then the $86k band. Invalidation is a 4H close under $80k — lose that and $76.8k comes into view quickly.
Citi just raised its 12-month target to $113k. Optimistic, but flow says prove it. DYOR, size accordingly.
$BTC #Bitcoin #PriceAction #CryptoMarket
That reaction matters more than the candle shape. The $79.7k low held, nearly $950M of leveraged longs got flushed out, and perp funding has reset from overheated to negative — shorts are now the crowded side. Spot ETF flows even flipped positive on Thursday (+$5.06M after a $261M Wednesday bleed), and wallets holding 10-10,000 BTC just hit a record 20,338.
Setup-wise: support is the $79.8k-$80k buyer wall, resistance is $82.5k-$83k which capped every rally this week. A weekend close above $83k opens $84k, then the $86k band. Invalidation is a 4H close under $80k — lose that and $76.8k comes into view quickly.
Citi just raised its 12-month target to $113k. Optimistic, but flow says prove it. DYOR, size accordingly.
$BTC #Bitcoin #PriceAction #CryptoMarket