October 21
ETF net inflows of 526 million in a single day fueled a rebound and breakout, opening up a short-term bullish setup. Favor buying on a pullback
【Today's Plan】
Entry: Buy on a pullback into the 82,200–82,500 range
Stop-loss: Below 81,800; if this level breaks, put the plan on hold
Take profit in stages:
① 83,200–83,400
② 84,000–84,200
【Market Analysis】
Several positive catalysts came together overnight: the Dow rose 1.02%, oil prices fell 1.8%, and spot ETFs saw their largest single-day net inflow in nearly a month. These inflows propelled Bitcoin up from 81,300, with a high of 83,436.9. The current price is around 82,920, and it is holding above the 1-hour and 4-hour moving averages. The short-term trend has shifted from weak to strong.
On the news front, U.S.–Iran talks continue to progress with Qatar's mediation, oil prices are declining, and inflation expectations have eased somewhat. With the FOMC meeting approaching on October 27–28, markets price in an 82.3% chance that interest rates will remain unchanged this time, and rate-hike concerns continue to fade.
The main plan today is to buy on a pullback. Near the previous high, where resistance may emerge, a small short position could be considered. Bulls currently have the upper hand, and for now, a trend-driven crash is not expected. #BTC
ETF net inflows of 526 million in a single day fueled a rebound and breakout, opening up a short-term bullish setup. Favor buying on a pullback
【Today's Plan】
Entry: Buy on a pullback into the 82,200–82,500 range
Stop-loss: Below 81,800; if this level breaks, put the plan on hold
Take profit in stages:
① 83,200–83,400
② 84,000–84,200
【Market Analysis】
Several positive catalysts came together overnight: the Dow rose 1.02%, oil prices fell 1.8%, and spot ETFs saw their largest single-day net inflow in nearly a month. These inflows propelled Bitcoin up from 81,300, with a high of 83,436.9. The current price is around 82,920, and it is holding above the 1-hour and 4-hour moving averages. The short-term trend has shifted from weak to strong.
On the news front, U.S.–Iran talks continue to progress with Qatar's mediation, oil prices are declining, and inflation expectations have eased somewhat. With the FOMC meeting approaching on October 27–28, markets price in an 82.3% chance that interest rates will remain unchanged this time, and rate-hike concerns continue to fade.
The main plan today is to buy on a pullback. Near the previous high, where resistance may emerge, a small short position could be considered. Bulls currently have the upper hand, and for now, a trend-driven crash is not expected. #BTC