BTC WEEKLY PLAN | OCTOBER 12–19
October is usually a bullish month, but after the recent selloff, I think it’s still too early to confirm $BTC is ready to resume its uptrend
Price has bounced from our expected zone, but a few concerns remain
1. Why I’m still cautious
The recent selloff was aggressive, with heavy volume following a prolonged distribution structure near the top
BTC also broke significantly below key support before reclaiming it over two hours later.
While this could be a false breakdown, the selling pressure suggests we still need more confirmation
2. Two scenarios I’m watching
Bullish: If TOTAL breaks above $2.85T and BTC reclaims $85K, the uptrend could resume, with targets at $86K and $92K.
Bearish: If BTC loses $82.2K and TOTAL drops below $2.75T, another leg down toward $77K becomes possible
3. Macro catalysts
CPI and PPI are key inflation indicators to watch this week, as they could influence Fed rate expectations.
I’m expecting sideways action on Monday, with a clearer market structure potentially forming by Tuesday evening
4. My outlook
DXY currently looks bullish, which could put additional pressure on BTC and gold
For now, I’m slightly leaning bearish and wouldn’t rule out another move lower
However, a strong reclaim of $85K alongside TOTAL breaking $2.85T would change my outlook
Final thoughts
BTC has bounced, but the uptrend isn’t confirmed yet
$85K is the key bullish level, while $82.2K is the critical support to watch
I’ll be monitoring market structure, DXY, and macro data before making my next move
Let the market confirm the direction first
October is usually a bullish month, but after the recent selloff, I think it’s still too early to confirm $BTC is ready to resume its uptrend
Price has bounced from our expected zone, but a few concerns remain
1. Why I’m still cautious
The recent selloff was aggressive, with heavy volume following a prolonged distribution structure near the top
BTC also broke significantly below key support before reclaiming it over two hours later.
While this could be a false breakdown, the selling pressure suggests we still need more confirmation
2. Two scenarios I’m watching
Bullish: If TOTAL breaks above $2.85T and BTC reclaims $85K, the uptrend could resume, with targets at $86K and $92K.
Bearish: If BTC loses $82.2K and TOTAL drops below $2.75T, another leg down toward $77K becomes possible
3. Macro catalysts
CPI and PPI are key inflation indicators to watch this week, as they could influence Fed rate expectations.
I’m expecting sideways action on Monday, with a clearer market structure potentially forming by Tuesday evening
4. My outlook
DXY currently looks bullish, which could put additional pressure on BTC and gold
For now, I’m slightly leaning bearish and wouldn’t rule out another move lower
However, a strong reclaim of $85K alongside TOTAL breaking $2.85T would change my outlook
Final thoughts
BTC has bounced, but the uptrend isn’t confirmed yet
$85K is the key bullish level, while $82.2K is the critical support to watch
I’ll be monitoring market structure, DXY, and macro data before making my next move
Let the market confirm the direction first