$BTC Bitcoin’s $79,000 level is currently a key support. When it breaks will determine when the test of support at $77,000 arrives.
But if it continues to hold, watch for the interest rate decision in the early hours of October 29. If the decision is not to raise rates, there is a strong possibility of another rebound later on to test the $82,000–$83,000 range.
As for the previously suggested bearish outlook from $80,000, if the price still hasn’t broken below $79,000 by the end of today, we may need to temporarily abandon the breakdown outlook and exit to manage risk.
But if it continues to hold, watch for the interest rate decision in the early hours of October 29. If the decision is not to raise rates, there is a strong possibility of another rebound later on to test the $82,000–$83,000 range.
As for the previously suggested bearish outlook from $80,000, if the price still hasn’t broken below $79,000 by the end of today, we may need to temporarily abandon the breakdown outlook and exit to manage risk.
