Bitcoin price eyes $82K as Morgan Stanley strategist says most of correction is over

Bitcoin (BTC) approached $82,000 on Wednesday as South Korea’s KOSPI Composite Index gained over 6%.

Bitcoin reached $81,687 on Wednesday, extending a rebound as bid liquidity thickened around $79,000 and $80,000..

South Korea’s KOSPI Composite Index gained 6.63% as tech stocks rebounded from earlier October losses.

Analysts remained uncertain about where BTC/USD will build its next trading range as resistance stayed intact near $82,000.

BTC price heads higher with KOSPI up 9.3% week-to-date

Data from TradingView showed BTC/USD extending an intraday rebound to reach $81,687 on Bitstamp.

BTC/USD one-hour chart. Source: Cointelegraph/TradingView

The pair avoided new lower lows on hourly time frames as bid liquidity thickened around $79,000, and $80,000, per data from CoinGlass.