FX.co ★ Trading signals for BITCOIN on October 21-23, 2026: sell below $85,000 (21 SMA - 7/8 Murray)

Bitcoin is trading around $83,683 with a positive bias, above the 200 EMA and above the 21 SMA on the H4 chart.

Bitcoin has upside potential; however, it remains within its downtrend channel and is therefore likely to face strong resistance at $84,375.

If Bitcoin continues to rise in the coming hours, we should keep a close eye on the upper band of the downtrend channel around $84,300 or the key $85,000 level, which could serve as a turning point for a pullback in Bitcoin's price.

If Bitcoin encounters strong rejection around $84,375 or $85,000 and lacks the strength to break through and consolidate above this zone, it will be considered a signal to take short positions with targets at the 200 EMA around $82,000.

Conversely, if bullish momentum prevails, Bitcoin could reach the 8/8 Murray level around $87,500 in the coming days.

We believe Bitcoin may consolidate over the next few days below $85,000 and above $81,250; we should monitor these levels to decide whether to take long or short positions.

If consolidation occurs below the 6/8 Murray level, Bitcoin's outlook could change, and we could see a strong downward move. The Eagle indicator has reached overbought levels and is giving a negative signal.