AnalysisBTCUSD
Bitcoin Daily Analysis: Mon 05 Oct
Bias: 🔴 Bearish while price holds below 86,386.66
The picture
BTC is rejecting 86,386.66 for the second time. Late September spiked above it and failed. Price then ranged below it, and today's push to 86,978.45 is fading back under the level. Repeated failure at the January breakdown level points to a rotation back toward the 77,944.46 support, which flipped from resistance in September.
Key levels
| Type | Price | Note |
|---|---|---|
| 🔴 Resistance | 93,509.77 | Range high, only in play on a breakout |
| 🔴 Resistance | 86,978.45 | Today's high, rejection wick |
| 🔴 Resistance | 86,386.66 | Jan breakdown level, rejected twice |
| 🟢 Support | 77,944.46 | Flipped resistance → support, downside target |
| 🟢 Support | 69,634.17 | Next major support if 77,944.46 fails |
Plan
- No shorts into support. Wait for a clear daily rejection below 86,386.66.
- Look for an H4 break of structure to the downside to confirm the turn.
- Downside target: the area just above 77,944.46. Expect buyers there.
- No new trades 30 minutes either side of high-impact news.
Invalidation: a D1 close above 86,386.66 turns the bias neutral. Acceptance above 86,978.45 opens 93,509.77.
The author may hold positions in this instrument. Not financial advice. Disclosures