BlackRock Bought $665 Million of Bitcoin. Price Is Still Falling.
1 extracted signal · 0 resolved · 1 still active
Crypto JebbIndependent analyst profile- Source published
- 20 Oct 2026, 18:00 UTC
- Recorded by Tahlil Plus
- 20 Oct 2026, 19:45 UTC
AI-generated source summary
The analysis focuses on Bitcoin (BTCUSDT) using a daily timeframe. The speaker identifies a key resistance level around $87,489 and a support zone between $72,305 and $75,000. The current price is around $82,354. The speaker's primary thesis is that Bitcoin is showing signs of exhaustion after a significant uptrend, evidenced by failed attempts to break higher resistance levels and a potential shift in momentum. Technical indicators such as Fibonacci retracement levels from previous uptrends are discussed, highlighting the 0.618 retracement at approximately $72,892 as a significant support area. Historical price action from previous bull markets, specifically the all-time highs in late 2017 and late 2021, are referenced to draw parallels with the current market structure, suggesting a similar pattern of a potential reversal after reaching previous highs. The speaker also notes the inflow data for Bitcoin ETFs, which has slowed down, and outflows from some ETFs like Fidelity, potentially indicating reduced institutional buying pressure. The overall prediction is for Bitcoin to enter a downtrend or a period of consolidation, with a target for a short trade around the $72,305 to $75,000 support zone. The failure for this bearish outlook would be if Bitcoin decisively breaks above the $87,489 resistance level.
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