Crypto
Bitcoin Retreats from September Highs as Short-Term Picture Fades
Bitcoin's price has retreated from its September highs after reaching $83,428.53 on Thursday morning, representing a 2.4% increase over the past 24 hours but still 4.5% below the recent high of $87,374.
The daily structure remains bullish, but the 1-hour and 4-hour charts show a corrective phase, placing the $82,800-$83,200 area in focus as support.
On the daily chart, Bitcoin's price has maintained its multi-month advance from the low of $57,735 to the recent high of $87,374, followed by the current pullback rather than a complete retracement of September's massive advance.