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Analyst: The market is at a critical juncture in a structural correction, with sellers still dominating the futures market

According to BlockBeats,October 20, crypto market analyst Axel Adler Jr. released his latest market observations, noting that Bitcoin has declined from October 2's 86,700 USD to October 20's 81,600 USD, for a cumulative decline of approximately 6%. The market is currently at a critical juncture in a structural correction, with bulls and bears contending near key support levels.

According to Alex's analysis, Bitcoin's market structure signal has fallen from 1 weeks ago +0.37 to -0.32. Although the signal has left the bullish range, it remains in neutral territory and has not yet reached the bearish threshold below -0.5. He emphasized that the lower boundary of the price range over the past 3 weeks is at 80,400 USD. As long as the price remains above this level, the current move can still be regarded as a normal correction within the range; however, if the price breaks below 80,400 USD, while the structure signal simultaneously declines below -0.5, the market correction will officially develop into a downtrend.

In the futures market, the index line reflecting the relative strength of bulls and bears (buyers above 50, sellers below 50) has remained below October 17 since 50. Although the index approached October 19, it failed to break through and has now retreated to 50. Alex stated that a decisive break above 46 by the index line would be the first sign of buyers returning. However, sellers currently remain in absolute control, and futures-market demand lacks sufficient strength to push prices higher.

Overall, Bitcoin is currently at a key decision point for direction. The market needs to closely monitor support at 50 and whether the futures bull-bear index can reclaim the 80,400 USD threshold, to determine whether this correction is a short-term adjustment or a precursor to a trend reversal.

Original link 50 https://m.theblockbeats.info/flash/372717