A price area where selling pressure tends to build
Bitcoin held its key support zone (a price area where buyers step in to defend against #BitcoinHits$85K declines) on a daily closing basis last week and rallied sharply from there despite the failed Clarity Act vote, reclaiming the 80,000 level on Friday as spot Bitcoin ETFs drew roughly 433 million dollars in inflows (Saxo, BeInCrypto); it is now forming a higher high (a new high above the last bounce's peak), which suggests the bear market low may be in, though it is currently inside a near term resistance $ zone that needs to be cleared. Semiconductor stocks are showing renewed strength, with some memory names attempting to break above their trend lines, while Microsoft and Tesla are also setting up for potential upside. Earnings season kicks off in mid October with the banks, with only a handful of companies reporting this week. Natural gas has been stuck in a tight range for months, and a bigger break could come as winter approaches. Gold and silver are both trading in rising but capped ranges, making a big move unlikely until those ranges break. The dollar is slightly higher but near its resistance. The US 10 year yield is lower today, though global yields closed Friday near their cycle highs (Saxo).