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Bitcoin risks new October lows as sellers regain control and BTC price discovery gets put on hold.<\/p>\n<\/li>\n
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Targets include the local range lows at about $108,000 amid bearish divergences.<\/p>\n<\/li>\n
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Strength is lacking as daily losses near 3%.<\/p>\n<\/li>\n<\/ul>\n
Bitcoin neared weekly lows after Thursday\u2019s Wall Street open as sellers kept bulls away from price discovery.<\/p>\n
BTC\/USD one-hour chart. Source: Cointelegraph\/TradingView<\/em><\/figcaption><\/figure>\n Bitcoin \u201clikely\u201d to give way to shorts next<\/h2>\n
Data from\u00a0Cointelegraph Markets Pro\u00a0and\u00a0TradingView\u00a0showed BTC\/USD dipping below $120,000.<\/p>\n
Down nearly 3% on the day, the pair continued to slice through bid liquidity on exchange order books.<\/p>\n
\u201cMarket does still quote bid liquidity around $121K-$120K but what we need to see next is absorption of sellers to rule out a sweep lower,\u201d trader Skew wrote in part of his\u00a0latest market commentary\u00a0on X.<\/p>\n
Skew added that the market was \u201cquite likely to be dominated by new shorts opening\u201d in the short term.<\/p>\n
BTC\/USDT chart with exchange order-book data. Source: Skew\/X<\/em><\/figcaption><\/figure>\n Trading resource Material Indicators meanwhile leveraged proprietary trading tools to highlight repeated tests of nearby support.<\/p>\n
\u201cNow we are facing a 3rd consecutive Daily support test at the trend line,\u201d it\u00a0summarized\u00a0alongside an accompanying chart.\u00a0<\/p>\n
\u201cLosing the trend line would open the door to a support test at the Q4 Timescape Level at $114k.\u201d<\/p><\/blockquote>\n
BTC\/USD one-day chart. Source: Material Indicators\/X<\/em><\/figcaption><\/figure>\n Data from\u00a0CoinGlass\u00a0showed a lack of bid support much below the $120,000 mark at time of writing, while asks multiplied overhead.<\/p>\n
BTC liquidation heatmap. Source: CoinGlass<\/em><\/figcaption><\/figure>\n BTC price weakness sees $108,000 return to radar<\/h2>\n
Considering longer timeframes, trader Roman reiterated the tenuous situation in which Bitcoin finds itself, despite its recent all-time highs.<\/p>\n
\u201cA friendly reminder that we are once again printing more bearish divergences, low volume, & lack of momentum on HTF. Both 1W & 1M,\u201d he\u00a0told\u00a0X followers.<\/p>\n
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$BTC\u00a01W<\/p>\n
A friendly reminder that we are once again printing more bearish divergences, low volume, & lack of momentum on HTF. Both 1W & 1M.<\/p>\n
We called the move from 107-124k perfectly, now I see us moving lower, potentially 108k once again.<\/p>\n
I don\u2019t see strength here.\u00a0pic.twitter.com\/pdEfp535eG<\/p>\n
\u2014 Roman (@Roman_Trading)\u00a0October 9, 2025<\/p><\/blockquote>\n
Roman predicted that local range lows at $108,000 could come into play once again, something\u00a0already on the radar\u00a0for October.<\/p>\n
Earlier,\u00a0Cointelegraph reported\u00a0on a separate analysis, which saw a bullish BTC price breakout coming only after October.<\/p>\n
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