Bitcoin Price Clings to $81K as Sellers Circle Critical Support

Bitcoin’s price is caught in an increasingly uncomfortable position, trading near $81,392 on Tuesday, Oct. 20, as short-term selling pressure clashes with a longer-term technical structure that has yet to surrender its bullish foundations. With the cryptocurrency slipping toward the bottom of its $81,155 to $82,667 intraday range, technical indicators favoring sellers and Bitfire Research warning of deteriorating macroeconomic conditions, the immediate contest centers on whether buyers can defend $81,100 or allow another retreat toward the psychologically important $80,000 threshold. The one-hour chart tells a fairly unforgiving story, with bitcoin’s price establishing lower highs after reaching $83,062 and subsequently struggling to maintain traction around $81,450. Immediate support rests near $81,102, while the $81,900 to $82,000 corridor presents the first meaningful obstacle for buyers.

First reported by Bitcoin.com News. This page is a short excerpt; the full text is theirs.