Bitcoin faces bearish pressure below $76,500 while Ethereum eyes $2,000 and gold trades above $4,050 ahead of the October US CPI report.
Bitcoin lost the $80,000 handle, broke below the $76,500 support and the 100- and 200-hour moving averages, and fell to $73,598 before consolidating. A bearish trend line with resistance at $78,800 caps rallies, and a close below $72,000 could open the way to $70,000. The main counterweight is the US CPI release due today, which could reset direction either way.
Ethereum extended its losses alongside Bitcoin and shows bearish technical signs, with sellers targeting a test of the $2,000 level. The article gives no upside levels for ETH, so the risk skews downward in the near term. Today's US CPI print could amplify or reverse the move.
Gold gained traction and traded above $4,050 while Bitcoin declined, supported by easing inflation concerns per the related analysis headline. This is a brief mention without fresh levels beyond the $4,050 mark, so the move is noted but its follow-through is uncertain ahead of the CPI data.
Bitcoin has entered a fresh decline, trading below $75,000 after failing to hold the $80,000 level. The cryptocurrency broke through key support at $76,500 and is currently consolidating near $73,598 ahead of today's US Consumer Price Index release, which forecasts a 3.9% year-over-year increase.
It failed to hold above $80,000, broke below the $76,500 support and its key 4-hour moving averages, dropping as low as $73,598 ahead of today's US CPI release.
A 4-hour close above the $78,800 bearish trend line resistance could start another steady increase, with bulls initially targeting $82,000 and then $83,500.
Bears may aim for a move toward the $2,000 level if the current bearish signs continue.
Yes, the article shows gold gaining traction above $4,050 while Bitcoin dropped below $75,000.