Bitcoin predicts a breakout while maintaining $69,000 due to ‘securing FOMO liquidity’.

Bitcoin (BTC) hit a major breakout level on October 19 after “FOMO liquidity gains” were rejected at $69,000.

BTC price closed at its highest daily level in four months.

Data from Cointelegraph Markets Pro and TradingView shows that BTC price action has contracted since the last Wall Street trading session of the week.

BTC/USD hit a three-month high within $69,000 on Bitstamp the day before and gave up its spontaneous rise.

“Volume was low and bearish for this breakout,” popular trader Roman told his followers on

“I still think we will come back down and consolidate before we go any higher. “This appears to be to secure liquidity before the actual breakthrough.”

Data from monitoring resource CoinGlass shows a thick wall of liquidity forming on either side of the spot price, with calls to curb BTC price gains.

Roman also mentioned a crunch area of ​​interest to market participants at $68,400, which represents a very important breakout zone after the all-time high in March.

“Everyone is watching 68.4k to break the macro range,” he concluded.

Continuing on this topic, fellow trader and analyst Rekt Capital acknowledged that bulls still have work to do to solidify the area just above $68,000 as solid support.

“Bitcoin is once again pressing above the top of the resistance zone (red),” he explained in

“Bitcoin needs just one daily close above the red resistance line to position itself for a firm breakout from here. A daily close is essential to confirm that there is no upside beyond the resistance level.”

The daily closing price on October 18 was finally just over $68,400, Bitcoin’s highest since June 10.

Bitcoin macro bullish factor lineup

Looking at macroeconomic trends, trading firm QCP Capital has good news for Bitcoin’s strength going forward.

relevant: Is it different this time? Bitcoin RSI says a BTC price of $233,000 is possible in 2025.

Not only has Bitcoin’s dominance of the cryptocurrency market capitalization reached a three-and-a-half-year high, but the so-called “L1 coins” are all set to benefit from strong institutional inflows, the company claimed in its latest bulletin aimed at subscribers of its Telegram channel.

Bitcoin dominance was 58.88% at the time of writing, briefly hitting 59% on October 17th.

“With U.S. stocks nearing record highs and a new weakening trend in the Japanese yen, risk-on sentiment is likely to increase as we get closer to the U.S. election,” QCP added.

“This will push risk assets higher and support the Uptober narrative.eve.”

BTC/USD is up 7.7% so far today, roughly the same performance as in September.

This article does not contain investment advice or recommendations. All investment and trading activities involve risk and readers should conduct their own research when making any decisions.