Bitcoin Crash To $87,600 Looms If This Support | Crypto News
Bitcoin is sitting on a technical ledge that may determine whether or not price makes a new all-time high or unwinds sharply into the $80,000s, according to veteran trader Josh Olszewicz (CarpeNoctom). “BTC complex iHS brewing in the megaphone,” he posted on October 30, 2025, including in a follow-up: “Also this brewing, not great.”
The Bullish Case For Bitcoin
Olszewicz is monitoring two constructions. The first, on the 6-hour timeframe, reveals BTC trading inside a broadening “megaphone” sample that has contained price since July. The megaphone is outlined by rising dotted resistance traces above and falling dotted assist traces below. The higher boundary extends through roughly $126,000 to $128,000. The decrease boundary widens down toward $105,400 and $103,800.
Within that vary, Bitcoin put in a sharp spike above $126,000 in early October, then offered off violently, dropping below $106,000s with a wick toward roughly $102,000. That bounce failed to recuperate the prior vary. Instead, price stalled under a horizontal resistance shelf around $116,000–$117,000. Olszewicz sketches a yellow projected path that implies a short-term bounce from just under $111,000 back in the 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 toward the higher resistance band come back into play. In that state of affairs, price may prolong toward $128,000, print a new all-time high, and probably restart a broader recovery part.
The Bearish Case For Bitcoin
The second chart is where the draw back risk accelerates. On the 1-day timeframe, Olszewicz maps a head-and-shoulders top with a rising neckline. The left shoulder topped in the $118,000 space, the top reached roughly $126,200, and the correct shoulder again failed close to $116,000. The neckline is drawn as an ascending dotted assist line that now sits in the $105,000–$106,000 zone. He highlights $107,316.81 as the key breakdown degree.
If that neckline breaks decisively, the chart applies a commonplace measured transfer. The distance from the top down to the neckline is projected decrease. Olszewicz plots that extension into a teal goal zone and marks intermediate and full aims at $93,963.81 (the 1.618 extension) and $87,652.27 (the two.0 extension). In other phrases, a clean daily breakdown through $107,316 opens a path first toward the mid-$90,000s and then toward 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 in the $116,000 area and that neckline helps around $105,000–$106,000. Olszewicz’s message is that bulls might still be attempting to kind a “complex inverse head-and-shoulders in the megaphone,” but the lively daily head-and-shoulders top is “not great.” A decisive loss of the neckline may verify the bearish construction and put $93,963.81 and $87,652.27 on the desk.
At press time, BTC traded at $110,096.
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