The day after the rate decision left rates unchanged, Bitcoin continued to sell off in the early hours, dropping about 5% in a day and now hovering around 77,000.
The key 80,000 level and the weekend low of 79,200 were both swept aside.
The short-term resistance I wrote about yesterday, 81,800, was tested but failed to hold.
The 80,400 support was also decisively broken.
Two short-term levels to watch:
Above: 78,000, around this morning’s rebound.
Below: 76,760, this morning’s low.
For the medium term, the upper boundary to watch is 81,800—the peak of the rally around the rate decision.
Below that is 76,300, near the starting point of the mid-September rally. The current price has already come close to this level.
The daily moving averages are well above the current price, showing just how deep this drop has been.
In my view, Bitcoin needs to reclaim 78,000 to catch its breath in the short term. If it loses 76,760 again, the old floor around 76,300 will likely come into view.
$BTC
#比特币 #MarketAnalysis
The key 80,000 level and the weekend low of 79,200 were both swept aside.
The short-term resistance I wrote about yesterday, 81,800, was tested but failed to hold.
The 80,400 support was also decisively broken.
Two short-term levels to watch:
Above: 78,000, around this morning’s rebound.
Below: 76,760, this morning’s low.
For the medium term, the upper boundary to watch is 81,800—the peak of the rally around the rate decision.
Below that is 76,300, near the starting point of the mid-September rally. The current price has already come close to this level.
The daily moving averages are well above the current price, showing just how deep this drop has been.
In my view, Bitcoin needs to reclaim 78,000 to catch its breath in the short term. If it loses 76,760 again, the old floor around 76,300 will likely come into view.
$BTC
#比特币 #MarketAnalysis
