The recent upward momentum in Bitcoin is largely driven by the ongoing U.S. government shutdown, which has created considerable macroeconomic uncertainty and delayed key economic data releases. This situation has presented an ideal environment for major institutional investors and whales to execute their strategic plays, capitalizing on heightened volatility and risk-off sentiment in traditional markets. However, a critical factor to watch closely is the day when the government announces its reopening or there is news signaling a potential resolution. Historically and technically, BTC tends to experience a sharp sell-off or dump on such occasions, as market risk appetite readjusts swiftly.

Key support zones to monitor are $114,000, $111,200, and $108,650. According to my technical analysis, BTC is likely to retrace down to around $110,000 before initiating a strong rally towards $135,000, which is projected to be the all-time high (ATH) for this season.

Book your profits, use stoploss and stay cautious‼️‼️ #MarketUptober #USGovShutdown #BTCPriceVolatilityNow #BTC