BITCOIN GOT REJECTED AT 84K 🚨
Earlier today $BTC bounced from its weekly low near 80.3K and tagged 84,340.
BTC printed its 4th straight weekly close above the 50-week moving average. Analysts on X started calling for 90K–94K.
A few hours later, all of that pump is gone. CMP ~82,530, down 1.5% on the day. Funding has flattened to almost zero, so the market isn't leaning hard either way.
US CPI drops Wednesday, Oct 14, and long-term US yields are still sitting near 24-year highs. A hot CPI keeps yield pressure on risk assets, and a soft one gives BTC room to breathe. Until then, expect fake moves both ways.
What you should do:
• Don't chase green candles before CPI
• Don't panic sell into support
• Keep your size small, because volatility around the data can be brutal
Here are the important levels I'm watching:
1Hr chart Analysis
Price is below MA7, MA25 and MA200, and RSI(14) is at 36.8, so sellers are in control short term but getting stretched.
Hold 82.3K (today's low) → bounce toward 83.4K–83.8K
Lose 82.3K → 81.7K, then 80.3K week low
4Hr chart Analysis
MA200 sits at ~82K, which is the real floor for this bounce. RSI(14) is at 41.8, cooling but not broken.
Hold 82K → the structure stays bullish and 84.3K–85K can be retested
Lose 82K → 80.3K, and below that 77–78K comes into plan
#BitcoinReclaims$84K
Earlier today $BTC bounced from its weekly low near 80.3K and tagged 84,340.
BTC printed its 4th straight weekly close above the 50-week moving average. Analysts on X started calling for 90K–94K.
A few hours later, all of that pump is gone. CMP ~82,530, down 1.5% on the day. Funding has flattened to almost zero, so the market isn't leaning hard either way.
US CPI drops Wednesday, Oct 14, and long-term US yields are still sitting near 24-year highs. A hot CPI keeps yield pressure on risk assets, and a soft one gives BTC room to breathe. Until then, expect fake moves both ways.
What you should do:
• Don't chase green candles before CPI
• Don't panic sell into support
• Keep your size small, because volatility around the data can be brutal
Here are the important levels I'm watching:
1Hr chart Analysis
Price is below MA7, MA25 and MA200, and RSI(14) is at 36.8, so sellers are in control short term but getting stretched.
Hold 82.3K (today's low) → bounce toward 83.4K–83.8K
Lose 82.3K → 81.7K, then 80.3K week low
4Hr chart Analysis
MA200 sits at ~82K, which is the real floor for this bounce. RSI(14) is at 41.8, cooling but not broken.
Hold 82K → the structure stays bullish and 84.3K–85K can be retested
Lose 82K → 80.3K, and below that 77–78K comes into plan
#BitcoinReclaims$84K