đ Hot CPI Sends Bitcoin From the $84K Wall to $81.6K
US inflation (CPI): 3.7% vs 3.6% expected, up from 3.4% in August.
Bitcoin wicked toward $84K right around the release, then dropped straight to $81.6K inside the same 4-hour candle.
Now hovering at $81.7K.
A day after China's factory prices jumped to 5%, US inflation came in hotter too. With the Fed already hiking in September, that makes any relief from rates harder to imagine, and risk assets priced it in fast.
For the record, yesterday we said knocking isn't breaking, and that what mattered was where price sat after CPI. Now we know: the wall won again. The squeeze broke lower, taking out the $83.3K and $82.9K higher lows.
One higher low survives: $81.0K, Tuesday's flush. Below it sit the $80.1K to $81.3K demand zone and last week's $80.3K low, the floor this whole range is built on.
Zoom out and Bitcoin is boxed between $80.3K and $84.4K. Every push to the top gets sold, and the late-September range above is still labeled distribution on the 4H. Until $84K breaks, bounces are rentals, not ownership.
Levels to watch. đŻ
Hold $81.0K, and $82.2K to $82.5K is the first ceiling to reclaim.
Lose $81.0K, and the $80.3K low gets tested again.
Below $80K, the $75K to $78K demand zone comes into play.
Equal highs near $84.1K are still untouched, so that's the magnet if bulls ever regroup.
Range floor holds at $81K, or the box finally breaks lower? đ„
Not financial advice.
$BTC
$WAL
$BTW
US inflation (CPI): 3.7% vs 3.6% expected, up from 3.4% in August.
Bitcoin wicked toward $84K right around the release, then dropped straight to $81.6K inside the same 4-hour candle.
Now hovering at $81.7K.
A day after China's factory prices jumped to 5%, US inflation came in hotter too. With the Fed already hiking in September, that makes any relief from rates harder to imagine, and risk assets priced it in fast.
For the record, yesterday we said knocking isn't breaking, and that what mattered was where price sat after CPI. Now we know: the wall won again. The squeeze broke lower, taking out the $83.3K and $82.9K higher lows.
One higher low survives: $81.0K, Tuesday's flush. Below it sit the $80.1K to $81.3K demand zone and last week's $80.3K low, the floor this whole range is built on.
Zoom out and Bitcoin is boxed between $80.3K and $84.4K. Every push to the top gets sold, and the late-September range above is still labeled distribution on the 4H. Until $84K breaks, bounces are rentals, not ownership.
Levels to watch. đŻ
Hold $81.0K, and $82.2K to $82.5K is the first ceiling to reclaim.
Lose $81.0K, and the $80.3K low gets tested again.
Below $80K, the $75K to $78K demand zone comes into play.
Equal highs near $84.1K are still untouched, so that's the magnet if bulls ever regroup.
Range floor holds at $81K, or the box finally breaks lower? đ„
Not financial advice.
$BTC
$WAL
$BTW