View: Bitcoin may turn to squeeze shorts next week; reclaiming $83,600 will determine whether the market can escape its range-bound predicament.

PANews October 18 news: Trader Killa posted that Bitcoin fell back from above $87,000 last week to the $80,000 range, and after rebounding to recover about 50% of the decline, it continued to be suppressed by the weekly opening price this week, ultimately dropping to near $80,000, the prior week's low. Currently, the main positions being liquidated are long positions. Killa believes that next week may shift to squeezing shorts, but it is necessary to watch whether Bitcoin breaks below this week's low of $79,800 again. If another sweep of the lows occurs, long opportunities can be watched; if the lows are not swept again, then it is necessary to observe whether $83,600 can be effectively reclaimed. If it cannot break through, the market may remain in a phase of range-bound oscillation and capitulation selling.

Killa believes that the most unfavorable scenario for longs is Bitcoin falling further to the $76,000 to $78,000 range, but he considers it unlikely that the price will drop to $74,000.