Analysis: Bitcoin's short-term trend shows strong "hunting" characteristics, key support at $75,500

Tapbit news reported on October 13 that trader Killa stated that if Bitcoin is to continue a market structure similar to 2023, it needs to form a higher low (HL) above $75,500, and preferably hold the low area near $80,000.

In the 2023 trend, Bitcoin first formed a weekly higher high (HH), then pulled back to confirm range support before starting the subsequent rally. Currently, if BTC's trend is to replicate this structure, the key lies in whether it can complete support confirmation after the current pullback.

Killa said that the reason BTC's recent short-term trend has shown strong "hunting" characteristics may be related to the market's continuous liquidity games. BTC previously recovered its short-term internal structure near $82,000, then pulled back to test and broke through again, with the market repeatedly creating breakout and breakdown signals.

Currently, the market needs to form a higher low and start the next round of gains; otherwise, this correction may extend further below $80,000. In the short term, whether BTC can hold key support levels will determine the direction of the subsequent trend.