TREE NEWS reports: Bitcoin’s rebound from its July 1 low of $57,820 has formed a five-wave structure now in its final ‘e’ leg, with technical models flagging overbought conditions and the price approaching the $88,000-$90,500 resistance zone. Analyst sees a high probability the e-wave ends in that zone, with $80,500-$82,500 as key support. HYPE set a record high of $101.93 on Sept. 22 and is now testing support near $89.69, with $90 the key level to watch.
BTC Rally Seen Nearing End as HYPE Pulls Back From Record High
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AI take
The significance lies in the convergence of technical exhaustion signals across two very different assets: Bitcoin's five-wave structure reaching its final leg and HYPE pulling back from a record high. This suggests the recent rally may be losing momentum broadly, not just in one name. The immediate focus is whether Bitcoin holds the $80,500-$82,500 support and whether HYPE reclaims $90, which would indicate whether this is a pause or a deeper reversal.
Generated by AI for reference only.
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