Trader

bullish

Band

Daily

Bitcoin

<p>Bitcoin price has recovered to around $81,731 after falling below $80,000 this week, while a daily retreat beneath its Bollinger midpoint has left traders divided over whether the rebound can reach $84,000.</p>
<div id="cn-block-summary-block_a16fc827f57af6ece43e0190c735f44d" class="cn-block-summary">
 <div class="cn-block-summary__nav tabs"><span>Summary</span>
 </div>
 <div class="cn-block-summary__content">
  <ul>
   <li>Bitcoin traded near $81,731, down 2.44% from its weekly opening price on Binance.</li>
   <li>Daily Bollinger Bands placed the midpoint at $83,478 and the lower boundary near $80,592.</li>
   <li>Weekly RSI stood at 56.75, while the green Supertrend line remained near $66,812.</li>
   <li>Market commentator Wealthmanager outlined a conditional $90,000 target if Bitcoin breaks above $84,000.</li>
  </ul>
 </div>
</div>
<p>TradingView’s Binance BTC/USDT charts at 8:11 a.m. UTC on Oct. 17 showed Bitcoin trading above its weekly low of $79,800 but below the week’s $83,773 opening price. The weekly high stood at $84,352, leaving the market inside a range it had already crossed in both directions.</p>
<p>The daily snapshot recorded a 0.14% gain, with price moving between $81,416 and $81,770. Against the weekly decline, that modest daily advance showed a rebound that had yet to recover the ground lost earlier in the week.</p>
<h3 class="wp-block-heading" id="bitcoin-price-remains-below-its-83-478-daily-midpoint">Bitcoin price remains below its $83,478 daily midpoint</h3>
<p>On TradingView’s daily chart, Bitcoin sat below the 20-day simple moving average used as the Bollinger Bands’ midpoint. The indicator placed that average at $83,477.61, with the upper band at $86,362.74 and the lower band at $80,592.47.</p>
<figure class="wp-block-image size-full"><img width="1827" height="954" src="https://media.crypto.news/2026/10/BTCUSDT_2026-10-17_13-41-51.webp" alt="Bitcoin daily chart shows price at $81,731 below the $83,478 Bollinger midpoint, with the lower band at $80,592 and ADX at 24.20.">
 <figcaption>
  Bitcoin price daily chart — Oct. 17 | Source: TradingView
 </figcaption>
</figure>
<p>Calculated from those readings, Bitcoin was roughly 2.1% below the midpoint and 1.4% above the lower band. The chart therefore placed the latest price closer to the lower boundary than to its central average.</p>
<p>After approaching the upper-$80,000 region in late September and early October, Bitcoin repeatedly retreated on the daily chart. TradingView’s Oct. 17 reading placed the price below both that region and the Bollinger midpoint.</p>
<p>You might also like: <a href="https://crypto.news/crypto-etfs-weekly-outflows-ethereum-bitcoin/" rel="noopener noreferrer nofollow"> Crypto ETFs lose $610.7 million as Ethereum outflows overtake Bitcoin </a></p>
<p>TradingView’s daily average directional index, or ADX, read 24.20 after declining from its earlier October readings. ADX measures trend strength without establishing whether the direction is bullish or bearish; the price chart supplied the downward direction of the latest move.</p>
<p>Earlier, crypto.news <a href="https://crypto.news/bitcoin-price-loses-82000-hot-cpi-can-support-hold/" rel="noopener noreferrer nofollow">reported the loss</a> of $82,000 on Oct. 14, when Bitcoin retreated from a session high above $84,100. Trader Lennart Snyder linked that decline to the U.S. inflation release and identified $80,300 as one of his downside targets.</p>
<h3 class="wp-block-heading" id="analysts-disagree-over-the-rebound-from-80-000">Analysts disagree over the rebound from $80,000</h3>
<p>Market commentator Wealthmanager took a conditional bullish view in an Oct. 17 post, pointing to Bitcoin’s bounce from $80,000 and a descending channel drawn across its recent price action.</p>
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
 <p>“If we get a break above $84K, $90K could be the next target.”</p>
</blockquote>
<p>The commentator identified $80,000 as the level he wanted Bitcoin to hold. His accompanying chart drew a possible move through the channel’s upper boundary, with the projected rise dependent on a breakout.</p>
<p>From the TradingView reference price of $81,730.55, reaching $84,000 would require a gain of approximately 2.8%. A move to $90,000 would amount to roughly 10.1%, calculated from the same starting price.</p>
<p>Crypto analyst Jesse Olson offered a more cautious assessment in an Oct. 16 post.</p>
<p>“BTC remains bearish on the daily chart.”</p>
<p>Olson said the session was heading toward the correction’s lowest daily closing price. His statement described the market at the time of his post; the Oct. 17 TradingView snapshot subsequently showed Bitcoin trading near $81,731.</p>
<p>A separate Oct. 16 assessment <a href="https://crypto.news/bitcoin-price-tests-81k-support-bears-hold-control/" rel="noopener noreferrer nofollow">identified a bearish structure</a>, with trader Ardi requiring a break above $84,200 before considering long positions toward the top of the range. His threshold sat $200 above Wealthmanager’s stated breakout level.</p>
<h3 class="wp-block-heading" id="weekly-rsi-holds-above-50-despite-the-price-decline">Weekly RSI holds above 50 despite the price decline</h3>
<p>TradingView’s weekly chart recorded RSI at 56.75, above the neutral 50 level and its displayed average of 51.82. The weekly momentum reading remained above that midpoint even as Bitcoin traded 2.44% below its weekly opening price.</p>
<figure class="wp-block-image size-full"><img width="1827" height="954" src="https://media.crypto.news/2026/10/BTCUSDT_2026-10-17_13-41-26.webp" alt="Bitcoin weekly chart shows price at $81,731, down 2.44%, with RSI at 56.75 and green Supertrend support at $66,812.">
 <figcaption>
  Bitcoin price weekly chart — Oct. 17 | Source: TradingView
 </figcaption>
</figure>
<p>The same chart displayed a green Supertrend line at $66,811.57. Bitcoin stood approximately 22.3% above that indicator, calculated using the displayed price and line value.</p>
<p>At $66,811.57, the weekly Supertrend line sat nearly $13,000 below the recent $79,800 low. TradingView’s daily lower Bollinger Band was much closer to price, roughly $792 above that weekly low.</p>
<p>Bitfinex analysts had <a href="https://crypto.news/bitcoin-90k-push-stalls-as-etf-buying-slows/" rel="noopener noreferrer nofollow">outlined downside conditions</a> on Oct. 6, identifying sustained trading below $81,300 alongside ETF withdrawals as circumstances that could bring $77,000 and the $77,200 True Market Mean back into view. Their assessment was conditional on both price and fund flows.</p>
<h3 class="wp-block-heading" id="liquidation-concentrations-sit-around-84-500">Liquidation concentrations sit around $84,500</h3>
<p>CoinGlass’s one-week heatmap showed its brightest overhead bands around $84,400–$84,800. Smaller concentrations appeared around $83,200–$83,700, while lower bands were visible around $80,000–$80,800 and beneath $80,000.</p>
<figure class="wp-block-image size-full"><img width="4080" height="2409" src="https://media.crypto.news/2026/10/BTC-Liquidation-Heatmap1-week-2026-10-17_13_41_12.webp" alt="Bitcoin one-week liquidation heatmap shows the strongest estimated liquidation clusters around $84,400–$84,800, above price near $81,700.">
 <figcaption>
  Bitcoin liquidation heatmap | Source: <a href="https://www.coinglass.com/pro/futures/LiquidationHeatMap?coin=BTC&amp;type=symbol" rel="noopener noreferrer nofollow">CoinGlass</a>
 </figcaption>
</figure>
<p>The heatmap plotted estimated liquidation concentrations, not completed liquidations. Its price trace showed repeated rebounds and declines during the week, including a move below $80,000 before the latest recovery.</p>
<p>U.S. inflation releases formed the backdrop to that trading. The Bureau of Labor Statistics recorded September consumer inflation at 3.7% annually and 0.6% monthly in its Oct. 14 release.</p>
<p>The following day’s <a href="https://crypto.news/bitcoin-price-drops-as-hot-us-ppi-fuels-rate-hike/" rel="noopener noreferrer nofollow">producer inflation release</a> put annual wholesale inflation at 6.3%. In the original release, BLS recorded a 1.3% monthly rise in final-demand prices, comprising a 2.6% rise in goods prices and a 0.8% rise in services prices.</p>
<p>Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.</p>
<p>Read more: <a href="https://crypto.news/nft-sales-rise-24-57-47-14m-bitcoin-volume/" rel="noopener noreferrer nofollow"> NFT sales rise 24.57% to $47.14m as Bitcoin volume more than doubles </a></p>

Bitcoin price stalls below $84K as analysts split over $90K target

Table of Contents

crypto.news

Other articles published on Oct 17, 2026

Join our free newsletter for daily crypto updates!