Bitcoin falls below $82K following a hotter-than-expected U.S. inflation report. TradingView’s Binance BTC/USDT daily chart showed Bitcoin at $81,830.60 on October 14. That is down 1.61% from the session’s opening price of $83,169.01.
The session ranged between $81,588.88 and $84,146.72. Therefore, Bitcoin closed near its daily low.
Why Bitcoin falls below $82K
The Bureau of Labor Statistics reported consumer prices increased 0.6% in September. That followed a 0.4% increase in August. Annual headline inflation reached 3.7%, up from 3.4% a month earlier.
The agency said gasoline prices rose 9.1% during September. That accounted for more than half of the monthly increase. Core prices rose 0.3% over the month. They rose 2.6% over the year.
The headline reading exceeded economists’ 3.6% forecast. As a result, rate hike odds jumped. According to CME FedWatch, the probability of an October increase was roughly 44%–49%. It was 22% beforehand.
The same report placed the two-year Treasury yield near 4.9%. The 10-year yield sat around 5.3%. U.S. stocks also declined. The S&P 500 lost 0.6%. The Nasdaq fell 0.8%.
Trader Lennart Snyder linked Bitcoin’s decline to the inflation release. In his October 14 commentary, he described the data as favorable for the dollar. He opened a short position near $82,800 after the market opening.
Daily Supertrend remains below Bitcoin at $79,664
TradingView’s daily chart placed the Supertrend line at $79,663.52. Its green line remained below Bitcoin’s price. At $81,830.60, Bitcoin was about $2,167 above that level. That equals 2.7%.
The chart showed a strong advance from the low-$60,000 region in August. Then trading occurred in the upper-$70,000 range through September. A later move carried Bitcoin toward $87,000. The latest retreat brought it into the low-$80,000 range.
The daily Aroon readings were less favorable. Aroon Up stood at 14.29%. Aroon Down was 57.14%. This shows the latest 14-period low was more recent than the latest high.
Together, the indicators presented a mixed setup. Bitcoin remained above its daily Supertrend line. However, Aroon Down exceeded Aroon Up by 42.85 percentage points. The price decline narrowed the distance to support without crossing it.
The daily session high of $84,146.72 sat within Snyder’s resistance area. He said repeated rejections around $84,000 supported his short position.
Snyder targets $80,300 and waits for a stronger recovery
Snyder identified $81,400 and $80,300 as the first downside targets. His commentary also outlined a possible short entry. That would occur if Bitcoin bounced from around $82,000. Then it would need to retest approximately $83,000. His trading trigger would also need to appear.
The trader preferred a forceful break above $84,000. He also wanted a move below $80,000. Only then would he consider more attractive long positions.
“I find longs less attractive at the moment,” Snyder said. “I prefer to break 84K with strength or going below 80K for quality longs again.”
Snyder’s broader downside plan extended to approximately $77,000. That would happen if Bitcoin lost $80,000. He described that level as his final take-profit area.
TradingView’s weekly chart added wider reference levels. Its Murrey Math indicator marked $75,000 as a strong pivot. It marked $87,500 as the lower boundary of its labeled range.
Bitcoin’s weekly price of $81,910.01 sat between those two levels. It was about 9.2% above $75,000. It was 6.4% below $87,500. Weekly ADX stood at 27.16. The weekly price range extended from $81,033.66 to $84,352.
Liquidation concentrations remain above $84,000
CoinGlass’s one-week liquidation heatmap showed bright nearby bands. These sat around $84,400–$84,700. Those concentrations sat above the latest price. They also sat above the $84,000 resistance area.
Lower on the heatmap, estimated bands appeared around $81,500 and $81,000. Others sat around $80,300–$80,500. Further concentrations appeared near $79,700–$80,000. The price trace showed earlier declines toward $80,300 and $81,000 before rebounds.
The latest decline returned Bitcoin to the upper-$81,000 region. That is below much of the range traded earlier on October 14. CoinGlass’s overhead bands remained brighter than nearby lower bands.
Snyder’s $80,300 downside target sat close to a lower concentration. His preferred $84,000 recovery threshold remained below the brightest overhead cluster. His outlook left both a recovery trade and further downside conditional.
What comes next for Bitcoin
Bitcoin must hold above $81,000 to avoid further selling. A break below $80,000 could target $77,000. Conversely, a strong move above $84,000 would improve the structure. Therefore, traders should watch those levels closely.