Quick Takeaways
- Bitcoin price hovers near $106 900, holding key support at $105K–$104K.
- On-concatenation flows wrick positive after $1.6B in weekly outflows.
- Polymarket odds prove a 38% chance BTC ends October below $100K.
Bitcoin Price Prediction: Traders Eye $100Thou As BTC Consolidates
Bitcoin price today deals around $106,900, with bulls defending the $105,000–$104,000 geographical zone after a turbulent week. The market’s focus stays on whether BTC can reclaim the 200-Day EMA, a primary trigger for the following move.
Bitcoin Holds Crucial Support Zone
BTC looks squiffy impedance between $108,000–$113,000, while sellers dominate the upper range.
The 200-24-hour interval EMA near $108,063 acts as a polar level for momentum recovery. With the RSI near 36, short-term figure stipulation comes along oversold but lacks a firm about-face signal.
On-Chain Flows Show Modest Relief
After nearly $1.6 billion in outflows, Coinglass data picture a small $17.6 million inflow on October 18, the first positive sign in days.
Nonetheless, this uptick remains too light-colored to confirm solid accumulation, and institutional appetites remain cautious.
Market Bets Turn Defensive
Polymarket data reveals thought tip bearish sentiment, with 38% of traders expecting BTC to come together in October below $100,000, equating to just 7% expecting a breakout above $130,000.
The sharp shift ponder correct confidence after a fickle month.
BTC Technical Outlook
- Upside target: Regenerating $113,000 could open room toward $118,000–$126,000.
- Downside risk: Fall Behind $105,000 may test $100,000–$98,000, with $92,000 as deeper support.
For like a shot, Bitcoin’s route depends on its power to retake the $108,000–$113,000 kitchen stove before sellers regain control.
