Bitcoin fell from $86,700 on October 2 to $81,600 on October 20, a decline of about 6%, according to market analyst Axel Adler Jr., as reported by BlockBeats.
Structure remains conditional
Adler’s market-structure signal fell from +0.37 a week earlier to -0.32. He described it as neutral and above the bearish threshold below -0.5. The lower bound of the past three-week range was $80,400; in his framework, a break below that level together with a signal below -0.5 would turn the pullback into a downtrend.
Futures sellers lead the reading
A futures long-short index has stayed below 50 since October 17 and was at 46 after failing to break above 50 on October 19. Adler said a decisive move above 50 would be the first sign of buyers returning. These are the analyst’s conditions, not a guaranteed price path.
Source: BlockBeats flash, reporting Axel Adler Jr.’s market observation.