Bitcoin: One More Leg Down Coming? Here's My Line and the Target

On Bitcoin

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• Next days (next 1–7 days): Leans down (timeframe is our reading): I would certainly be looking for a test of the open of this bimonthly time frame, which is 70 78,600. That is extremely likely. ▶ 12:11 Said again while their call of 22 Oct 2026 was open, so it counts once; that call was a draw: 81.7k when said, 81.8k on 29 Oct 2026 (+0.1%), under the 1% it takes to count.
• Next months (next 2–6 months): Leans up: more or less an opportunity because all of the higher term time frames that we've gone over in this channel, uh, still are relevant for the next few months realistically. ▶ 09:16 Said again while their call of 10 Jul 2026 was open, so it counts once; that call was open until 7 Nov 2026, against 64k when said.

If this, then that

• If Bitcoin finishes tomorrow below about 80,990 (2-day close), which forces the 2-day corrective setup, then 76–77k (next days, by tomorrow): if Bitcoin does finish below there tomorrow, again, that will force a 2-day time frame corrective setup. I would very much be looking for the correction to drag lower. Again, I'm stating between somewhere of 76,000 to 77,000 bucks. ▶ 07:30

Levels named

• 85k: Support (higher-time-frame pivot; above it he can't get macro bearish): I cannot get like full-on massive macro bearish for Bitcoin or at least higher term time frame uh bearish for Bitcoin as long as it's above again that $85,000 pivot right here. ▶ 08:25
• 79.7k: Support (last week's low / this month's low; above it he can't get short-term bearish): Uh we still continue to see Bitcoin remain above 79,700 on a daily closing basis. That is a big line in the sand for me. ▶ 00:42
• 78.6k: Target (open of the bimonthly time frame): I would certainly be looking for a test of the open of this bimonthly time frame, which is 70 78,600. That is extremely likely. ▶ 12:11
• 77.5k: Support (bimonthly 5 EMA; a close below would be concerning): if this thing were to close below the 5 EMA, which is 77,500, then yes, that would absolutely be concerning for sure. ▶ 11:51
• 77.3k: Target (minimum target is the 55 EMA if the corrective setup fires): target down to that green 55 EMA as a minimum target. Right now that is 77,350 or so or sorry 77,292. ▶ 04:47
• 76–77k: Target (target of the 2-day corrective setup if it fires): if Bitcoin does finish below there tomorrow, again, that will force a 2-day time frame corrective setup. I would very much be looking for the correction to drag lower. Again, I'm stating between somewhere of 76,000 to 77,000 bucks. ▶ 07:30
• 75k: Their view is wrong past this (long-term pivot; until violated he sees a complicated correction): does not necessarily violate that long-term pivot right here. again, $75,000. Um, you know, until that's violated, I, you know, I I still ultimately look at this as some sort of like complicated correction ▶ 09:06

Their own position: Holding. I mean, really, my my actual positions in Bitcoin are on IBIT, so the Bitcoin ETF.

Dates named

• FOMC meeting on 28 Oct 2026: to be fair, you know, we do have some catalyst. We got FOMC coming up this week, uh, I would say that would be not a good signal,
• Tech company earnings, undated: I think even tech, a lot of tech companies have earnings coming up this week as well.
• Elections next week, undated: And then of course next week we're going to have some elections.