#BTC Market Analysis 10/16 Yesterday, price dropped sharply to capture liquidity around $80,000, but only rebounded for one 4-hour candle. The overall structure remains bearish, so look for resistance levels to initiate short positions. The recent bearish OB on the 4-hour chart serves as current resistance between $82,900 and $84,300. If price fails to break above this range, the bearish outlook continues with a target at $77,500. (Target invalidated if price breaks above $84,300.)