CHINA BEAT ON Q3 GDP AT 4.5% AND $BTC IS NOW PUSHING 83K đš
China's economy grew 4.5% year on year in Q3 (NBS, Oct 19), above the 4.4% Reuters poll and up from a three-year low of 4.3% in Q2. Exports did the heavy lifting on AI hardware demand, while the home front stayed weak: fixed asset investment fell 7.2% in the first nine months and September retail sales rose just 1.1%. Nine-month growth sits at 4.6%, the low end of Beijing's 4.5â5% target.
$BTC bottomed at 80,622 overnight, tagged 82,788 in the hour the data dropped and kept going to 83,157. CMP ~82,960 (+0.9% 24h). Shorts paid for the climb: this morning $54.3M of a 4h $58.1M liquidation wave was shorts.
1H chart:
âą Testing: 82,790â82,960
âą If defended: 83,157, then 83,300
âą If lost: 82,370 (MA200), then 82,000
Daily chart:
âą Testing: 82,800â83,160
âą If defended: 83,300 (MA20), then 84,340
âą If lost: 81,495 (MA50), then 79,732
Hold 81,495 â the bounce has legs, 83,300 is the magnet
Lose 81,495 â 79,732 comes back
#China
China's economy grew 4.5% year on year in Q3 (NBS, Oct 19), above the 4.4% Reuters poll and up from a three-year low of 4.3% in Q2. Exports did the heavy lifting on AI hardware demand, while the home front stayed weak: fixed asset investment fell 7.2% in the first nine months and September retail sales rose just 1.1%. Nine-month growth sits at 4.6%, the low end of Beijing's 4.5â5% target.
$BTC bottomed at 80,622 overnight, tagged 82,788 in the hour the data dropped and kept going to 83,157. CMP ~82,960 (+0.9% 24h). Shorts paid for the climb: this morning $54.3M of a 4h $58.1M liquidation wave was shorts.
1H chart:
âą Testing: 82,790â82,960
âą If defended: 83,157, then 83,300
âą If lost: 82,370 (MA200), then 82,000
Daily chart:
âą Testing: 82,800â83,160
âą If defended: 83,300 (MA20), then 84,340
âą If lost: 81,495 (MA50), then 79,732
Hold 81,495 â the bounce has legs, 83,300 is the magnet
Lose 81,495 â 79,732 comes back
#China