1003 BTCTechnical Analysis Daily
BTC failed to keep the price above $65,000, causing a dumping at the beginning of October, and pushing the price below SMA20 ($62,400).
     BTC expressed its reaction to the geopolitical situation in a classic way, quickly rebounding after falling to the neutral support level of 60,000; data shows that the Middle East geopolitical situation has increased pressure on risk assets, but with a slight dumping, indicating that the current market sentiment demand is still strong.
     The current price has reached the MA50 level (60300 US dollars), which is an important level that long positions need to defend. If the price pumps from here and rises above the EMA20, longs may try to pull back to the resistance level of 66500 US dollars to regain lost ground and make another decision on the direction of the market after considering both long and short positions.
     On the contrary, if the price falls below the MA50, it will fall to clear the way to $57500, and further reversals will be reconsidered in the 55K--57K dollar range before the reversal.