TradingShot Predicts Bitcoin to Plunge to $61,500 by October 2026

According to TradingShot's analysis of Bitcoin's price trend, the cryptocurrency could decline to $61,500 by the end of October 2026 if a key support trendline fails.

The bearish pattern resembles setups seen before two major sell-offs this year, with Bitcoin being rejected by its 50-week moving average for three consecutive weeks.

Notably, the May peak saw Bitcoin reject at the 200-day MA, a situation similar to the current rejection at the 50-week MA, both of which were followed by sharp corrections.

The analyst emphasizes the importance of monitoring the cryptocurrency's higher-lows trendline, which has acted as a critical support area during the recovery phase. A breakdown below this trendline could trigger aggressive selling pressure and accelerate Bitcoin's decline.