Oh, the BTC price did a grand slam dunk under $105,000 this week! Who knew a 15-week low could feel like a circus act? First, it revisited supports from last week’s tariff-induced selloff-because nothing says “stability” like a bear trap in a clown car. 🐒
Short-term momentum? Gone! After failing to hold above $112k-$116k more times than a broken elevator, the price now wiggles between $104k-$107k (demand zone) and $120k-$124k (the “I-never-saw-you-before” resistance band). It’s like a dating app for charts-mutual swipes left! 😂
Technicians gasped as BTC kissed its 200-day moving average for the first time in six months! Meanwhile, the 20- and 50-day MAs trend lower, like a sad trombone after a vertical rally. Classic post-party crash. 🎺
BTC Tests $104K-$107K Support: Leverage Gets the Boot!
Despite the “dip,” analysts claim it’s a “controlled deleveraging”-code for: everyone got tossed off a cliff, but the popcorn was free. Open interest reset to mid-year levels, and funding flipped negative, which means speculators were yanked out by invisible hands. Welcome to crypto’s version of Rocky… without the training montage. 💪
Spot flows? Steady as a camel on a rollercoaster. Long-term holders shrug like, “This? Nothin’.” They’re the real comedians-laughing all the way to the moon. 🌕
If bulls reclaim $110k-$113k, a “relief bounce” to $116k-$120k might happen. But lose $104k-$106k, and traders whisper about the $101k-$102k “wick fill”-a term I’m sure involves no actual wicks. If liquidity thins? Buckle up for a $98k-$100k cameo. 🚀
Macro Mayhem: Banks, Gold, and the Fed’s Awkward Dance
Macro stress hit harder than a Fed rate hike. U.S. regional banks had a 2023-style panic attack while U.S.-China tensions flared like a birthday candle in a fireworks factory. Meanwhile, gold hit fresh highs, acting like crypto’s ex who’s still your emotional support asset. 💎
The Fed’s October-November meeting? A potential “reset button” for crypto. Rate cuts could revive the party, but a hawkish surprise would make it a haunted house. And ETF flows? They’ve slowed from record-breaking sprint to a suspiciously casual stroll. 🚶♂️
Still, analysts insist the investment case is “intact.” Because nothing says “health” like a structurally constrained supply and a market that forgot how to breathe. 🤯
Altcoins: The Sidekicks Who Forgot Their Lines
Altcoins took a backseat to BTC and stablecoins. ETH, BNB, SOL, XRP dropped 7-12%-like crypto’s version of a group project where everyone slacks off. High-beta coins like DOGE and ADA? They fell faster than a lead balloon at a comedy show. 🎈
Key levels to watch: Support ($104k-$106k, $101k-$102k) and Resistance ($110k-$113k, $116k, $120k-$124k). A close above $120k would reassert the uptrend-until then, it’s “catalyst-driven” chaos. Cue the dramatic music! 🎵
Cover image from ChatGPT, BTCUSD chart on Tradingview
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2025-10-18 09:20