Bitcoin broke below its trading range and now sits at $82,541, just above the $81,069 support level that has held since the drop below $81,000 on Oct. 8. Momentum indicators have turned bearish, liquidations topped $1.1 billion during the selloff, and U.S. spot bitcoin ETFs posted their heaviest daily outflow since June.
Price Breaks Below the Range
Bitcoin trades at $82,541, sitting just above the 200-period moving average at $81,069. The move keeps price under short-term resistance, a level that would need to break before buyers regain control. It follows a break below a distribution range and under the Ichimoku cloud, both signals tied to deeper correction risk.
A completed double top formed at $87,363 ahead of the decline, and the MACD line has moved further below its signal line, pointing to accelerating downside momentum. A hammer candle at $80,433 did produce a sharp bounce, suggesting buyers remain active at the lows even as the broader trend stays bearish.
Support Zone Under Pressure
The $80,433 to $81,069 band is the support zone now being tested. That range aligns with a 23.6% Fibonacci retracement at $81,334. A break below it could open a path toward $77,604 and then $74,589, the 50% retracement level, while a close back above $84,643 would reopen the bullish scenario.
The VWAP sits at $82,298, just under the current price, while the average true range points to swings of roughly 1.1%, a level the source describes as suited only to disciplined traders.
Liquidations and ETF Outflows Add Pressure
Bitcoin's drop below $81,000 on Oct. 8 came with an intraday low near $80,500 and more than $1.1 billion in liquidations. The same stretch saw U.S. spot bitcoin ETFs log a $487 million outflow day, their heaviest daily exit since June.
Those flows line up with the chart picture: sellers have controlled the tempo below the $83,965 to $84,643 cluster, and the bear trap zone around $80,433 to $81,069 remains the level where a sharp reversal could still squeeze aggressive short positions.
Sources: Investing.com, Bitcoin.com
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