TLDR:
- Bitcoin trades at $116,243 after three months of sideways action between $115,954 and $107,017.
- Uptober has historically delivered an average 20.23% gain for Bitcoin since 2013, fueling breakout expectations.
- Analysts highlight $118K-$119K as the key liquidity cluster Bitcoin must clear to regain upside momentum.
- Downside support sits at $107K-$108K, with bulls urged to hold the zone if October is to stay bullish.
Bitcoin opened October with traders closely watching whether the trend will finally shift. The last three months have seen sideways movement that has tested investor patience. Price swings have stayed locked between tight ranges as sentiment cooled.
Some traders believe the pattern is temporary consolidation before the next push higher. The new month, often called “Uptober,” now carries heightened expectations.
Bitcoin Price Eyes Range Breakout in October
Analyst Mags, posting on X, said Bitcoin has moved sideways between $115,954 and $107,017 across July, August, and September.
He described the move as a normal monthly range that often forms before larger rallies. He noted that higher timeframe ranges can act as continuation patterns in ongoing uptrends.
Looking ahead, he outlined two paths for October. The first is a clean breakout, as October has historically posted an average return of 20.23% since 2013. That would place BTC well above recent levels if the trend holds.
The second is a breakout followed by a retreat back into the current range, which could extend sideways trading.
Mags added that such false breakouts have already appeared in July and August. In those cases, new highs were tested but closed back within the existing monthly boundaries. For traders, this suggests more waiting before a decisive trend is confirmed.
Key Levels Set Between $118K Resistance and $107K Support
Analyst Daan Crypto Trades highlighted the short-term liquidity map, pointing to $118K–$119K as the key resistance area.
He explained that this region has held the most traded volume and must be cleared to break the current slump. Clearing it, he said, would restore bullish momentum and confirm strength into the fourth quarter.
On the downside, he identified $107K–$108K as critical support. This zone marked the lows of August and September and provided a buffer for bulls last month. He suggested that if Bitcoin revisits the level again, it would weaken the bullish outlook.
Holding above remains important for Uptober to sustain a positive trajectory.
Data from CoinGecko showed Bitcoin trading at $116,243 at press time. The 24-hour volume reached $61.4 billion, reflecting a 2.63% daily increase. Over the past week, Bitcoin gained 3.28%, signaling modest momentum ahead of October’s full run.
