๐ช Bitcoin Knocked on $85.6K. Sellers Slammed the Door.
BTC spiked to about $85.6K late yesterday, pierced the top of its range, and got rejected on the heaviest volume of the week. Now it's back at $83,470.
For the record, yesterday we said a close above $85.5K would break the lower-high pattern, and a drop back under $83.6K would cancel the spring. The wick went through $85.5K. The close never did. Price now sits under $83.6K, so the spring call is off. ๐
After a wild week, the range looks like this:
The low got swept at $82.4K.
The high got swept at $85.6K.
Both ends have been raided, and price is back in the middle.
In Wyckoff terms, that last spike looks like an upthrust, a push above resistance that traps breakout buyers before reversing. Same trick as a spring, just upside down.
Bulls did get one win overnight. September closed around $83,577, roughly 6% green, so the three-green-month streak is now official, the first of 2026.
The levels.
Hold $82.9K to $83.1K, and the range survives another round.
Lose $82.4K, and the $80K to $81.3K demand zone becomes the target.
Bulls need a real close above $85.6K, not a wick, to break out.
Ranges punish impatience at both ends. Let one side break for real.
Range holds again, or $82.4K breaks this time? ๐ฅ
Not financial advice.
$BTC
$BNB
$ETH
BTC spiked to about $85.6K late yesterday, pierced the top of its range, and got rejected on the heaviest volume of the week. Now it's back at $83,470.
For the record, yesterday we said a close above $85.5K would break the lower-high pattern, and a drop back under $83.6K would cancel the spring. The wick went through $85.5K. The close never did. Price now sits under $83.6K, so the spring call is off. ๐
After a wild week, the range looks like this:
The low got swept at $82.4K.
The high got swept at $85.6K.
Both ends have been raided, and price is back in the middle.
In Wyckoff terms, that last spike looks like an upthrust, a push above resistance that traps breakout buyers before reversing. Same trick as a spring, just upside down.
Bulls did get one win overnight. September closed around $83,577, roughly 6% green, so the three-green-month streak is now official, the first of 2026.
The levels.
Hold $82.9K to $83.1K, and the range survives another round.
Lose $82.4K, and the $80K to $81.3K demand zone becomes the target.
Bulls need a real close above $85.6K, not a wick, to break out.
Ranges punish impatience at both ends. Let one side break for real.
Range holds again, or $82.4K breaks this time? ๐ฅ
Not financial advice.
$BTC
$BNB
$ETH
