Darkfost says Bitcoin’s 84000 to 85000 USD is key resistance, while 77000 to 79000 USD could become support
BIBIBI
AT A GLANCE
The analyst said Bitcoin may need to break through the 84000 to 85000 USD range to determine its subsequent price movement.
Article
Analyst: Bitcoin may need to break through 84000-85000 USD to determine the next trend
PANews October 11 reported that crypto analyst Darkfost said that when Bitcoin reaches 83000 USD, approximately 53%of the cost basis is above that price, meaning that the cost basis of current buyers’ holdings is higher than that of half of market participants. Darkfost noted that the 84000 USD to 85000 USD range is Bitcoin’s largest concentration area, and many investors will react at this key price level. This area is an important resistance level that Bitcoin’s subsequent price movement needs to break through. If the price retreats, the 79000 USD to 77000 USD range could become a potential support area.
Darkfost said that when Bitcoin reaches 83000 USD, approximately 53%of the cost basis is above that price.
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Darkfost noted that the 84000 USD to 85000 USD range is Bitcoin’s largest concentration area.
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The report described the 84000 USD to 85000 USD range as an important resistance level that Bitcoin’s subsequent price movement needs to break through.
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If the price retreats, the 79000 USD to 77000 USD range could become a potential support area.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
This is a market assessment based on cost basis and concentration: the 84000 to 85000 USD range may see more investors react through trading and is therefore viewed as a resistance zone; if the price declines, the 79000 to 77000 USD range may provide support.
Why it matters to readers
These price levels may become key ranges of market focus, but the report does not prove that the price will definitely break through, encounter resistance, or find support.
Beginners can understand “resistance” as an area where selling pressure may emerge when the price rises, and “support” as an area where buying may emerge when the price falls.
Risks and unknowns
The report only relayed analyst Darkfost’s view and did not provide the original source or calculation method for the concentration data.
The evidence does not show whether Bitcoin has already broken through the 84000 to 85000 USD range.
The evidence does not show whether the 79000 to 77000 USD range has actually formed support.
The specific data source for “approximately 53%of the cost basis is above 83000 USD” was not stated.
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Cost basis
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