Opinion: Bitcoin has completed its “long squeeze” bottom sweep; a short squeeze may follow next week—bullish outlook remains valid above $79,800.

On October 18, prominent trader Killa reviewed Bitcoin’s weekly price action, noting that last week BTC pulled back from $87,000 to the $80,000 range before rebounding 50%. He pointed out that this week’s weekly candle opened with a Monday rally—but price repeatedly failed to sustain upward momentum and ultimately broke below last week’s low near $80,000. Killa believes the market is currently focused on “hunting” long positions, meaning next week could see a sharp shift toward hunting short positions instead. He cautioned traders to closely monitor whether price sweeps this week’s low of $79,800—if it does, that may present a buying opportunity.

Killa laid out a clear observational framework:
- If price avoids another sweep of the recent lows, watch the $83,600 zone closely;
- If $83,600 fails to hold as resistance, the market will likely remain in a capitulation-phase range-bound consolidation;
- A successful breakout above that level would signal a bullish reversal.

He expects next week’s weekly open to push higher—forcing late-stage short sellers who recently entered bearish positions to cover. In the worst-case scenario for bulls, BTC could dip into the $76,000–$78,000 range. That said, the analyst explicitly ruled out an extreme sweep down to $74,000.