Bitcoin has been climbing steadily since July, but one chart analyst thinks October could finally bring the pullback traders have been waiting for. After a rally that began in July and has continued through late September, a technical analyst says Bitcoin may be due for a healthier cooling-off period, and October could be the month it shows up. He’s not predicting a crash, just a normal pause after months of steady gains.
Level To Watch
The analyst is watching one support zone closely, around $82,900 to $83,000. As long as Bitcoin holds above this level, the short-term uptrend stays intact and there’s still room for another push higher, potentially toward $88,600 to $92,200. A brief dip below the line wouldn’t necessarily flip the picture bearish, but a clear, sustained break below it would be the first real warning sign.
What A Deeper Pullback Could Look Like
If Bitcoin does break down further, the next levels to watch are $81,600, then the 50-week average currently sitting near $78,700, and finally a deeper zone between $63,326 and $74,800 if selling really picks up. Importantly, the analyst said these lower levels aren’t targets, they’re simply areas he’d expect buyers to step back in if a real pullback unfolds.
Why This Isn’t Necessarily Bad News
The analyst pointed out that a pause in Bitcoin’s rally could actually be good for altcoins. He said that whenever Bitcoin trades sideways instead of surging, altcoins often get their moment to shine, something already playing out in recent weeks.
Despite flagging October as a period of possible weakness, the analyst was clear he hasn’t called a top. Bitcoin’s short-term trend has remained bullish since July, and another fresh high before any pullback is still very much on the table. His approach is to stay flexible and update his outlook as new price signals emerge, rather than locking into one fixed prediction and ignoring what the market shows next.