$BTC : Heading towards $40,000 [Reason #21]

Since March, Bitcoin has failed to establish a fifth higher low on the weekly chart, which could signal difficulties in maintaining its uptrend.

On previous occasions, by forming between two and four higher lows, it has experienced average declines of 24.5%.

Currently, with the fourth higher low, the price may drop towards $50,000 to finally seek the big target 📉

We expect that starting Thursday, the number of influencers commenting on the possibility of Bitcoin hitting $40,000 will increase.


When they are up to their necks in water, they will understand that the tide has been slowly rising.

For eight weeks now, we have been warning that Bitcoin is preparing to fall towards $40,000.

This Thursday, that narrative will gain strength if the inflation data turns out negative. Many will realize it too late…

$BTC possible drop.
$BTC : Continuing with our bearish outlook, we maintain the target of a SHORT trade towards $55,500, and a second SHORT entry towards 48,000 USDT.

This represents a drop of close to 12% from current levels 📉.

Since March, Bitcoin has been trending downwards. We have already seen four bull traps, and we suspect that we are facing the fifth.

After each of these signals, a new low has been generated on the weekly charts 📊.

For the OnTrader team, Bitcoin could fall to $48,000 this month, but only if the US inflation data is negative.

If you're looking for buying opportunities, the target is $66,000. For those trading on the short side, the range between $53,000 and $55,000 is a good conservative target.

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At OnTrader we expect a drop towards $53,000 this week if the inflation data on Thursday, October 10th turns out negative.

Bitcoin has formed 4 higher lows on weekly charts, which has historically led to an average drop of 24.5%. If the pattern repeats, the price could drop towards $50,000.

📉 Since March, it has failed to form a fifth higher low.

Bitcoin is expected to fall to $40,000 before the end of the year. We have been warning about this possibility for eight weeks now.

A sharp drop is expected this week as there are strange moves on Binance and Coinbase. In addition, BlackRock has sold a large amount of Bitcoin, which also indicates a drop.

The inflation data due out on Thursday could confirm our bearish outlook and push us to $50,000.

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ALERT ❌️

The US government is set to sell 69,370 BITCOIN ($4.33 billion) seized from a Silk Road individual.

On October 7, the US Supreme Court decided not to review the Battle Born Investments case, giving the government full control of these funds.

The last transfer was two months ago, when they moved 29.8K BTC ($2.02 billion).

Currently, the government owns 203,239 BTC ($12.63 billion).

We have warned about unusual movements in Bitcoin.

Recently, 33,785 BTC (valued at $2,101,427,000) have been moved in one block, raising suspicions that the US government could be preparing a massive sale of Bitcoins 🤔.

In addition, another important movement involves 64,230 BTC from a wallet between 12 and 18 months old. These movements generate concern in the market.

🚨 Attention! 🚨 Today, 33,785 BITCOIN were moved, equivalent to more than 2 billion dollars!

😱 Did you know that this transaction erased 14.8 million Coin Days? 🔥 This reveals that those BTC had not moved in a long time...

What does it mean for the market?

It could indicate declines or volatility.