for a long time BTC It fluctuates between 116 thousand dollars and 107 thousand dollars. Now it’s back to base again. If the support level cannot be maintained, BTC may set its sights on bigger bottoms. The situation is worse for altcoins, many cryptocurrency It has to struggle with losses exceeding 5 percent. Moreover, all this is happening despite the China agreement.
5 Important Levels
Bitcoin 
$110,521.68 While it was running to a new all-time record level, Trump’s desire to turn China tensions into war spoiled things. Although the agreement was reached earlier today, the Bitcoin price has not come close to its level on the day Trump’s October 10 statements began. BTC, which continues to be fast on the decline and clumsy on the rise, moves like a ping-pong ball.
On-chain analyst Anıl shared the first key level, pointing to tomorrow’s option closings.
“Tomorrow morning at 11:00 (UTC), Bitcoin’s contract worth $13 billion will expire in the options on Deribit. The maximum pain level is $114,000. There is no certainty, it may just have a magnetic effect, if not, some people will be very hurt.”
We have seen these options determine the direction of the price many times. If a rapid move to $114,000 begins, this would mean liquidation of a lot of liquidity that is safe from short selling.
DaanCrypto announced the other 4 important levels.
“BTC is another test of $107,000. It is still in this range at the moment.
All levels from low to high:
$103,000 (Wick low).
$107,000 Local low and support.
$111,000 Mid-range and high-volume node.
$116,000 Range high and resistance.
We play ping pong between these levels. When one gives up, the other follows. Keep watching these.”
China Treaty and Decline
Chinesesuspended shipping restrictions for 1 year. The USA suspended half of its export controls for 1 year. China halted export restrictions on October 9. Both sides have frozen new investigations and countermeasures. The US extended the tariff suspension for another year. In other words, it was one of the best scenarios; solutions came for 12 months, not 3 months. However, it is unclear how long this will continue. But still of cryptocurrencies He should have reacted more positively to this development.
Failure to maintain the 112 thousand dollar support caused the higher bottom story to be shelved, increasing the panic in altcoins and increasing the cost of the loss. Poppe is still hopeful and believes we will see new ATH in November with a break above $112,000.
