After Bitcoin ( BTC ) experienced a sharp correction on October 10 , an analyst has noted that the pattern closely echoes the price movements seen during the COVID-19 crash in March 0 recent plunge, triggered by renewed trade tensions and tariff threats, has drawn attention from TradingShot , who suggested that Bitcoin’s technical setup could be laying the groundwork for a potential parabolic 1 an October 14 TradingView post , the analyst highlighted that Bitcoin’s latest decline mirrors the 2020 crash that preceded its historic bull 2 price analysis chart.) entered oversold territory, signaling seller exhaustion and potential for 3 the same time, the 2020 crash demonstrated that maintaining candle closes above the MA200 marked a turning point for renewed bullish momentum.
Bitcoin’s key price levels to watch Once Bitcoin reclaimed that level, it surged from under $5,000 to over $60,000 within a 4 the current market follows a similar fractal, Bitcoin’s latest flash crash could represent the final shakeout before another major 5 the MA200 acting as a key support zone, analysts believe BTC could be positioning for a long-term move toward the $150,000 region, assuming historical trends 6 the sharp drop that pushed Bitcoin below $110,000, the asset has struggled to sustain a strong recovery, with $115,000 emerging as a key short-term resistance 7 price analysis At press time, Bitcoin was trading at $112,562, up 1.2% in the past 24 hours but down 8% over the 8 price remains slightly below the 50-day SMA of $114,665, suggesting short-term weakness, yet comfortably above the 200-day SMA of $105,528, indicating that the broader uptrend remains 9 seven-day price chart.
Story Tags

Latest news and analysis from Finbold