So, on Bitcoin, we’ve seen quite a ride lately, a correction, a strong pump, some sideways movement, it’s been a journey full of ups and downs, but a rewarding one overall.
Right now, I believe we’re at a point where a correction is due. Bitcoin could move up toward $65,000, or it might dip below that level. It depends on time, which is always a key factor in my trading.
Another important aspect for me is scenario preparation. When you look at my chart above, you’ll see I always prepare two scenarios, long and short and I often hedge accordingly. Could Bitcoin fall all the way to $60,000? It’s possible, though unlikely at the moment. What seems more probable is that we’ll face strong resistance on the upside. We’ve broken out of the previous parallel channel and sideways range, but there’s still heavy resistance ahead. It would take a very strong catalyst to push higher from here.
For me, the preferred scenario is to look for an entry around $61,000-$62,000, but I’ll wait until Monday’s stock market open to take any new trades. I don’t trade weekends, and it’s currently 2 a.m. on Friday, October 18, so I’ll stay flat until the markets reopen.
That said, recent trades have been solid. My portfolio has performed well, even during the altcoin crash that wiped out over 1.5 million accounts through liquidations. I wasn’t one of them because I had prepared for this scenario. I shorted Ethereum perfectly, took profits, and added to positions where it made sense. My focus, as always, was on institutional flow, understanding where the big money is moving.
Now, on Bitcoin, I’m watching a key liquidation zone around $74,000, which I call the maximum pain zone. This is typically where trapped longs start exiting their positions, creating opportunities for larger players to step in.
We also have the VWAP (Volume-Weighted Average Price) aligning near that area, which gives us an idea of where the true average price lies based on traded volume. That’s an important level to monitor.
I wanted to share this idea with you. If it helps or adds value, give it a like, share it, and drop a comment with your thoughts or critiques. If this post reaches 10+ likes, I’ll post a TradingView update with the latest analysis and scenarios for the upcoming week.
