An unnamed trader said a Bitcoin short tracked since early October reached its final target at $79,500, with most of the position closed at a profit. The trader said the rest was being held without additional risk and that no new aggressive position was planned until new range boundaries formed.
The analyst said an October close below $80,000 could send Bitcoin toward $72,500 and then $70,000, while a close above it could keep the $80,000–$88,000 range intact for at least another month. Ethereum set a new weekly low of $2,281.22 but had not reached the analyst’s key zone around $2,200. The trader said no new positions would be opened before the scheduled Fed rate decision on October 28 and U.S. GDP and core PCE releases on October 29.
