Bitcoin price tests $81K support as bears hold control, can BTC recover?

Bitcoin traded near $81,400 on Oct. 16 after rebounding from a weekly low of $79,800, leaving its recovery dependent on holding the 50-day moving average and breaking a pattern of lower highs. Bitcoin hovered near its 50-day moving average at $81,279 after slipping below $80,000 this week. Trader Ardi identified $84,200 as the level needed to break the local bearish structure. Weekly RSI held above 50, while the daily chart showed weaker short-term momentum. CoinGlass’s one-week heatmap showed a large overhead liquidation cluster around $84,300–$84,700. Bitcoin's daily chart showed a price of $81,345.75, down 1.09% for the session, at 5:38 p.m. UTC. The weekly chart captured a minute later placed BTC at $81,449.99, down 2.77% from the week’s opening price.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to crypto.news.