Bitcoin’s rally has stalled and given way to a sharp pullback. After touching 86,774 on October 4, BTC slid through the session to trade near 83,180 today, a move of roughly three and a half percent from the October 5 close of 85,963. The break below the 84,500 support cluster that we flagged as critical has shifted the intraday tone decisively.
The weekly and daily structures are not broken. Daily ADX still reads 37 with positive directional pressure, and daily CMF remains positive at plus 5.8, telling us the broader uptrend is intact beneath this correction. The 12H moving average at 82,619 and today’s low near 82,658 form the immediate floor we are watching. On the other side, 84,500 to 85,241 has flipped from support to the first resistance zone, with the weekly MA-90 ceiling at 88,925.
Our previous 24H HOLD call from October 5 was judged a hit — price consolidated inside the 84,500 to 86,500 base band through October 6, closing at 85,510, and the 84,500 to 84,600 support we cited held within that window. The lesson we take is that while a short-term hold was correct, the weekly StochRSI overbought reading we kept flagging was the real tell; the overbought condition eventually resolved into this deeper pullback.
The intraday picture is oversold. StochRSI on the 4H is at zero and the 6H is barely above, with RSI in the low thirties on the fast frames. That sets up a bounce risk, but the 2H ADX at 49 and the negative money flow on the intraday frames argue for patience. We are holding a defensive stance on the 24H view and would only consider a long on a confirmed reclaim of 84,000 with improving flow. For now, the path of least resistance is consolidation near support.
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