Bitcoin Crash To $87,600 Looms If This Support Snaps, Warns Veteran Analyst
Bitcoin is sitting on a technical ledge that might resolve whether or not value makes a brand new all-time high or unwinds sharply into the $80,000s, in line with veteran dealer Josh Olszewicz (CarpeNoctom). “BTC advanced iHS brewing within the megaphone,” he posted on October 30, 2025, including in a follow-up: “Also this brewing, not nice.”
The Bullish Case For Bitcoin
Olszewicz is tracking two constructions. The first, on the 6-hour timeframe, exhibits BTC buying and selling inside a broadening “megaphone” sample that has contained value since July. The megaphone is outlined by rising dotted resistance strains above and falling dotted assist strains under. The higher boundary extends via roughly $126,000 to $128,000. The decrease boundary widens down towards $105,400 and $103,800.
Within that vary, Bitcoin put in a pointy spike above $126,000 in early October, then offered off violently, dropping under $106,000s with a wick towards roughly $102,000. That bounce didn’t get well the prior vary. Instead, value stalled beneath a horizontal resistance shelf round $116,000–$117,000. Olszewicz sketches a yellow projected path that suggests a short-term bounce from slightly below $111,000 again in direction of $116,000. That path suggests tried reduction, not confirmed bullish continuation.
Only if Bitcoin can reclaim the $116,000–$117,000 zone does a transfer towards the higher resistance band come again into play. In that state of affairs, value may lengthen towards $128,000, print a brand new all-time high, and probably restart a broader recovery phase.
The Bearish Case For Bitcoin
The second chart is the place the draw back threat accelerates. On the 1-day timeframe, Olszewicz maps a head-and-shoulders prime with a rising neckline. The left shoulder topped within the $118,000 space, the pinnacle reached roughly $126,200, and the proper shoulder once more failed close to $116,000. The neckline is drawn as an ascending dotted assist line that now sits within the $105,000–$106,000 zone. He highlights $107,316.81 as the important thing breakdown degree.
If that neckline breaks decisively, the chart applies an ordinary measured transfer. The distance from the pinnacle all the way down to the neckline is projected decrease. Olszewicz plots that extension right into a teal goal zone and marks intermediate and full targets at $93,963.81 (the 1.618 extension) and $87,652.27 (the two.0 extension). In different phrases, a clear every day breakdown via $107,316 opens a path first towards the mid-$90,000s after which towards roughly $87,600.
Above spot, resistance stays layered. The 0.5 retracement of the prior impulse is labeled at $115,486, and the 1.0 retracement — successfully the earlier swing high — is marked at $124,477.
Structurally, Bitcoin is now boxed between provide within the $116,000 area and that neckline helps round $105,000–$106,000. Olszewicz’s message is that bulls should still be making an attempt to kind a “advanced inverse head-and-shoulders within the megaphone,” however the energetic every day head-and-shoulders prime is “not nice.” A decisive lack of the neckline may verify the bearish structure and put $93,963.81 and $87,652.27 on the desk.
At press time, BTC traded at $110,096.
