BTC closed the daily candle on Oct 20 at $82,778, up 0.97% after hitting a low of $81,200.
Net spot buying was +1,367 BTC, but OI fell 0.9%, alongside $28.1 million in short liquidations. In my view, some of the upward momentum may have come from shorts closing their positions—not necessarily from fresh money coming in.
As long as the price stays above $81,500, I’m sticking with the rebound scenario. The $83,200–$84,000 supply zone is the next test—if price breaks through with new positions opening, the rally has stronger support. If the daily candle closes below $79,000, I’ll drop this scenario.
Do you think the price will break through, or get rejected at $83,200–$84,000?
Net spot buying was +1,367 BTC, but OI fell 0.9%, alongside $28.1 million in short liquidations. In my view, some of the upward momentum may have come from shorts closing their positions—not necessarily from fresh money coming in.
As long as the price stays above $81,500, I’m sticking with the rebound scenario. The $83,200–$84,000 supply zone is the next test—if price breaks through with new positions opening, the rally has stronger support. If the daily candle closes below $79,000, I’ll drop this scenario.
Do you think the price will break through, or get rejected at $83,200–$84,000?