Good morning, October 13! Bitcoin broke above 84,000 yesterday, reaching 84,348, but lacked momentum and continued falling into early this morning to 81,750. It is currently trading around 82,000. Our short strategy yesterday gained 2,100 plus 90 points.
Wednesday morning
Long around 81,500–81,000, targeting
82,500–83,300
Long around 2,440–2,415, targeting
2,485–2,525
$BTC $ETH

BTC’s daily chart is in a bearish suppression phase on the larger timeframe, with the price under pressure below the Bollinger middle band. The MACD has formed a death cross, and the green histogram bars are continuing, indicating that downward momentum is still being released, making a direct sharp reversal unlikely. KDJ is hovering at low levels, so downside room is limited, but upward momentum is insufficient. On the 4-hour chart, the earlier rebound met resistance at the 84,340 high before coming under pressure and falling back. Rebound momentum has waned, and KDJ has formed a death cross at high levels and is moving downward. Bears have the upper hand in the short term; although the market is briefly oversold, it will likely continue dipping to test support.
🉑Short around 83,300 on the rebound, add at 83,800, targeting 82,000 and 80,000
ETH🉑short around 2,550, add at 2,580, targeting 2,490 and 2,410