【Weekly Review, October 12, 2026】

Last week in review: Last week's forecast that BTC would fall to 80K and ETH to $2,400 was largely on target. Prices mainly reached the area around the 60-week moving average. This marks the end of the early bull-market rally—the first phase. The subsequent pullback is preparation for the true major uptrend on the weekly chart.

It will take quite some time for this phase to arrive—anywhere from one month to six months—so be prepared. For now, prices have begun to rebound after pulling back to their target levels.

Outlook for next week:

1. On the weekly chart, a bearish engulfing candlestick pattern has formed. Note that this pattern appeared near the 60-week moving average, indicating that the correction is likely to continue. Support levels remain the same as last week: 80K for BTC and $2,400 for ETH. Resistance levels are $2,635 for ETH and 84.2K for BTC.

2. This correction is taking place on the 3-day chart timeframe. ETH has already shown a clear correction signal, with the MACD forming a death cross. This is also a medium-term correction. On the downside, in addition to the ETH $2,400 and BTC 80K levels mentioned above, keep an eye on further support.

3. More importantly, watch for the risk of ETH pulling back to $2,140 and BTC reaching strong support at 71.7K. These levels pose a risk, but also offer opportunities to buy the dip. Prices may not fall this far next week, but this expectation will remain in place unless prices move sideways above 80K/$2,400 instead of falling further.

$BTC $ETH #Bitcoin #Ethium