Bitcoin was trading at $79,986 on October 29, down 1.10% on the day and beneath its 7-, 20-, and 50-day moving averages, with aggressive selling pressure in Binance futures compounding a weak techn...

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Bitcoin opened October 29 on the back foot, printing $79,985.99 on Binance spot markets with a 1.10% decline on the day. The 24-hour session carved out a range of $79,710 to $81,823 — a spread of roughly $2,113, slightly above the 14-day ATR of $1,795. That positioning matters because every short-term moving average now sits overhead: the 7-day SMA at $80,660, the 20-day SMA at $81,801, and the 50-day SMA at $81,977 form a layered ceiling above current price, each one a potential supply point on any recovery attempt. The 200-day SMA at $73,157 remains well below and does not pose a near-term structural threat, but it offers little active support given the distance involved.

Bollinger Band geometry reinforces the near-term pressure. 0979 places Bitcoin just above the lower band at $79,543 — close enough that price is effectively hugging the band's floor. The middle band (20-day SMA) at $81,801 and upper band at $84,059 both align with broader resistance, concentrating supply between roughly $81,800 and $84,100. The daily ATR of $1,795 anchors expectations: moves of that magnitude are statistically consistent with a single session's range, but closing the gap to strong resistance at $82,619 would already consume a full ATR from current levels.

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