$BTC
BTC rejected at $87,300 — now retesting support near $84K
Bitcoin hit a high of $87,278 before sellers stepped in hard, pulling price back to around $84,344, down 2.16% on the session. This follows directly from the Fed's hawkish signals we just covered — Governor Barr flagging more hikes ahead added fresh pressure right as BTC tested this resistance zone.
Important nuance: CoinMarketCap's Alice Liu points out the climb to $87K wasn't driven by new buying — it was short covering, roughly 10x the value of long liquidations on Monday. That matters: squeeze-driven rallies tend to fade faster than demand-driven ones, which is exactly what's playing out now.
Levels to watch:
4H Supertrend support: $83,593 Below that: $81,000-$83,000 liquidity zone RSI sits at 65 — still elevated, not oversold yet
Silver lining: US spot Bitcoin ETFs pulled in $999 million on September 21 — strong demand, though that flow predates this pullback, so it's not yet confirmed whether buyers step back in at these lower levels.
$BTC #Bitcoin #BTCPriceAlert
BTC rejected at $87,300 — now retesting support near $84K
Bitcoin hit a high of $87,278 before sellers stepped in hard, pulling price back to around $84,344, down 2.16% on the session. This follows directly from the Fed's hawkish signals we just covered — Governor Barr flagging more hikes ahead added fresh pressure right as BTC tested this resistance zone.
Important nuance: CoinMarketCap's Alice Liu points out the climb to $87K wasn't driven by new buying — it was short covering, roughly 10x the value of long liquidations on Monday. That matters: squeeze-driven rallies tend to fade faster than demand-driven ones, which is exactly what's playing out now.
Levels to watch:
4H Supertrend support: $83,593 Below that: $81,000-$83,000 liquidity zone RSI sits at 65 — still elevated, not oversold yet
Silver lining: US spot Bitcoin ETFs pulled in $999 million on September 21 — strong demand, though that flow predates this pullback, so it's not yet confirmed whether buyers step back in at these lower levels.
$BTC #Bitcoin #BTCPriceAlert
