Bitcoin misses 85,000 $ : six hours between 84,808 $ and 81,500 $
On Wednesday evening, Bitcoin reached 84,808 $ after a rebound driven by corporate earnings (Nasdaq +1.05%). It fell back toward 81,500 $ within six hours. On Thursday morning, it was trading around 81,700 to 82,050 $, below the 82,500 $ support (CoinAcademy, KuCoin).
What weighed on it: tech stocks, with Tesla and Meta mentioned, followed by a drop in Asian markets on Thursday. The KOSPI fell 3.52%, and the Hang Seng Tech index dropped more than 5%.
The levels
→ 84,826 $ : the previous high, the ceiling zone
→ 82,500 $ : lost support
→ 80,000 $ : support zone. Some analysts point to a weekly low above 80,000 $ ahead of the U.S. midterm elections on November 3. Glassnode reaches a similar conclusion.
Sentiment: the Fear and Greed Index is at 68, up from 63 the day before.
My analysis: a breakout that holds for only six hours is not a trend. The 80,000 to 82,000 $ zone is once again the test. These are analysts' levels, not forecasts.
This is not investment advice.
Which level are you watching now: 80,000 $ or 82,500 $ ?
#BinancePick
On Wednesday evening, Bitcoin reached 84,808 $ after a rebound driven by corporate earnings (Nasdaq +1.05%). It fell back toward 81,500 $ within six hours. On Thursday morning, it was trading around 81,700 to 82,050 $, below the 82,500 $ support (CoinAcademy, KuCoin).
What weighed on it: tech stocks, with Tesla and Meta mentioned, followed by a drop in Asian markets on Thursday. The KOSPI fell 3.52%, and the Hang Seng Tech index dropped more than 5%.
The levels
→ 84,826 $ : the previous high, the ceiling zone
→ 82,500 $ : lost support
→ 80,000 $ : support zone. Some analysts point to a weekly low above 80,000 $ ahead of the U.S. midterm elections on November 3. Glassnode reaches a similar conclusion.
Sentiment: the Fear and Greed Index is at 68, up from 63 the day before.
My analysis: a breakout that holds for only six hours is not a trend. The 80,000 to 82,000 $ zone is once again the test. These are analysts' levels, not forecasts.
This is not investment advice.
Which level are you watching now: 80,000 $ or 82,500 $ ?
#BinancePick