đš Bitcoin Stuck Below $82,000! $BTC Down 1.60% At $81,451
Hello everyone, here is today's simple Bitcoin update.
What happened today?
Bitcoin gave back its early gains on Tuesday, Oct 20. Dow Jones reported today at 2:43 AM ET (11:43 AM PKT) that Bitcoin traded below $82,000 at $81,887, after briefly crossing $83,000 on Monday. On my live chart right now, at about 1:20 PM PKT, $BTC is at $81,451.32, down 1.60% in 24 hours, with a 24h high of $83,096.01 and a low of $81,200.00.
Why is Bitcoin weak?
Buyers are still in short supply. Last week, spot Bitcoin ETFs saw $228.4 million in net outflows, according to Coinglass data reported today. Lower oil prices and Treasury yields helped Monday's bounce, but interest rate worries are still capping the recovery. In simple words: big funds are not buying strongly yet.
What levels are traders watching?
Support is $81,200 first, today's low, then the round $81,000 level traders call strong support. If $81,000 breaks, sellers will gain control. Resistance is $82,800 first, then today's $83,096.01 high. A close above $83,096 would show buyers are back. Holding above $81,000 keeps the recovery alive.
Please do not chase the price inside this tight range â watch the $81,000 support and the $83,096 break first.
Is $81,000 strong enough to hold Bitcoin this week, or do you expect a deeper dip before the next bounce?
Educational content only, not financial advice.
#BinanceSquare #WriteToEarn #Bitcoin #CryptoNews
Hello everyone, here is today's simple Bitcoin update.
What happened today?
Bitcoin gave back its early gains on Tuesday, Oct 20. Dow Jones reported today at 2:43 AM ET (11:43 AM PKT) that Bitcoin traded below $82,000 at $81,887, after briefly crossing $83,000 on Monday. On my live chart right now, at about 1:20 PM PKT, $BTC is at $81,451.32, down 1.60% in 24 hours, with a 24h high of $83,096.01 and a low of $81,200.00.
Why is Bitcoin weak?
Buyers are still in short supply. Last week, spot Bitcoin ETFs saw $228.4 million in net outflows, according to Coinglass data reported today. Lower oil prices and Treasury yields helped Monday's bounce, but interest rate worries are still capping the recovery. In simple words: big funds are not buying strongly yet.
What levels are traders watching?
Support is $81,200 first, today's low, then the round $81,000 level traders call strong support. If $81,000 breaks, sellers will gain control. Resistance is $82,800 first, then today's $83,096.01 high. A close above $83,096 would show buyers are back. Holding above $81,000 keeps the recovery alive.
Please do not chase the price inside this tight range â watch the $81,000 support and the $83,096 break first.
Is $81,000 strong enough to hold Bitcoin this week, or do you expect a deeper dip before the next bounce?
Educational content only, not financial advice.
#BinanceSquare #WriteToEarn #Bitcoin #CryptoNews