BTC is stuck near the bottom of the $80K range. I’m not betting on direction here—whichever way it breaks, I’ll follow.
BTC closed at $80,958 on October 18, right on the $80,000–$81,500 support zone.
This is the average cost basis for U.S. spot ETF buyers. The dips on the 8th and 13th this month were both bought back up.
Overhead, $88,000 is the cost basis of buyers who got stuck six months ago; below, $78,000 is the next support level.
I think the riskiest move right now is opening a position in the middle—you can get hit from both sides.
From October 7 to 14, ETFs saw net outflows of $859 million over six days. Buying pressure is weakening, but leverage has already been flushed once, so a sharp crash is less likely.
I’ll follow the triggers: I’ll only believe in a rebound if the daily chart breaks above $84,000 on high volume. If it closes below $79,960, I’ll look to $78,000 and won’t try to catch a falling knife.
The Fed on October 28 and the midterm elections on November 3—the market could make its move over these next two weeks.
With high leverage, positions on either side can easily get liquidated at this level. Think about your stop-loss before thinking about profits.
Which side are you on: short if it breaks below $80,000, or buy the dip if it holds above $81,500?
$BTC $ETH
#Bitcoin #FederalReserve
BTC closed at $80,958 on October 18, right on the $80,000–$81,500 support zone.
This is the average cost basis for U.S. spot ETF buyers. The dips on the 8th and 13th this month were both bought back up.
Overhead, $88,000 is the cost basis of buyers who got stuck six months ago; below, $78,000 is the next support level.
I think the riskiest move right now is opening a position in the middle—you can get hit from both sides.
From October 7 to 14, ETFs saw net outflows of $859 million over six days. Buying pressure is weakening, but leverage has already been flushed once, so a sharp crash is less likely.
I’ll follow the triggers: I’ll only believe in a rebound if the daily chart breaks above $84,000 on high volume. If it closes below $79,960, I’ll look to $78,000 and won’t try to catch a falling knife.
The Fed on October 28 and the midterm elections on November 3—the market could make its move over these next two weeks.
With high leverage, positions on either side can easily get liquidated at this level. Think about your stop-loss before thinking about profits.
Which side are you on: short if it breaks below $80,000, or buy the dip if it holds above $81,500?
$BTC $ETH
#Bitcoin #FederalReserve