On September 26, the price of Bitcoin was trading around $84,000 after retreating from a weekly high of $87,363. On Binance, Bitcoin was priced at $84,008 at 07:07 UTC, which is 3.8% below its weekly peak. Analysts identified the range of $85,000–$85,800 as the first strong selling zone. The four-hour Supertrend was at $86,435, above the current price. The daily Bitcoin candle showed a high of $84,145 and a low of $83,798.
Wealthmanager analyst identified a selling band from $85,000 to $91,000. The first barrier is $85,000–$85,800, then $88,000, with $90,000 named as the largest wall above the market. Analyst Mister Crypto also pointed to $85,000 as the level limiting recent Bitcoin rebounds. Wealthmanager noted that if Bitcoin fails to reclaim $85,000, a pullback to $81,000–$82,000 is possible. To test the lower boundary of the first selling zone, Bitcoin needs to rise by about $1,000. If $85,800 is breached, the Supertrend level and the weekly high will become relevant again.
In the week from September 21 to 25, spot Bitcoin ETFs in the U.S. recorded about $2.39 billion in net inflows. On September 21, inflows amounted to $999 million, including $381.4 million for IBIT from BlackRock, $289.1 million for ARKB from ARK 21Shares, and $238.8 million for FBTC from Fidelity. On September 22, inflows were $714.7 million, then slowed to $346.9 million on September 23, $190.7 million on September 24, and $134.5 million on September 25. The difference between Friday and Monday was $864.5 million, but the Friday result remained positive. On September 25, IBIT received $97 million, FBTC – $49.3 million, partially offset by an outflow of $11.8 million from BITB by Bitwise. Data source – Farside Investors.
On September 16, the Federal Reserve raised the rate by 25 basis points to a range of 3.75%–4%. The decision was made before the weekly high and pullback, with ETF inflows continuing during the decline.
The daily RSI remained above 60 after the pullback – 63.94 with a moving average of 61.27. The middle line of the 20-period Bollinger Band is $80,165, with Bitcoin trading about $3,843 above it. The upper band is $87,230, close to the weekly high of $87,363. The lower band is $73,099.85. On the 4-hour chart, the Awesome Oscillator was −579.84, and the histogram crossed zero.
The CoinGlass liquidation map shows a bright band around $85,000–$85,500, another zone around $86,500–$87,000, and below the market – around $82,500 and $83,000–$83,500. The support level on the 4-hour chart is $83,592.86.
The upward sequence begins with the selling zone of $85,000–$85,800, then the Supertrend at $86,435, the upper Bollinger Band at $87,230, and the weekly high at $87,363. Above are the Wealthmanager levels of $88,000 and $90,000. On the downside, the nearest support is $83,593, followed by $82,500 and $81,000–$82,000, with the Bollinger middle band at $80,165 lying below.
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