How to Trade Crypto When Bitcoin Tests $81,000 Support and Eyes $97,000
Video: Bitcoin Came THIS Close to Breaking Down: $97K Next?
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Key takeaways
- Bitcoin flushed to about $79,750 but closed back above $81,000 support.
- A daily close below $81,000 opens $75,500, where Gareth would buy only 25%.
- Above $87,200, three factors converge near $95,000–$97,000: rising trend line, measured move, and pivot highs.
- Ethereum has a heavy buy zone just below $2,000 and a $2,800 retest on a breakout.
- HBAR swing trade targets near $0.10 on a retrace to the scene of the crime.
Bitcoin came within a hair of a major breakdown, flushing to about $79,750 before closing back above its $81,000 support. According to Gareth Soloway's analysis, the bullish structure remains intact as long as $81,000 holds on a daily close, with upside targets near $97,000 above $87,200. Traders can sign up for Coinbase through Gareth's referral link to get tier-one fee pricing and save on trading costs.
Why Bitcoin's $81,000 Support Is the Line in the Sand
Bitcoin hammered the $81,000 level again and held it, which keeps the bullish structure alive. The intraday flush to roughly $79,750 was quickly bought back, showing demand at lower prices. As long as the daily close stays above $81,000, the market remains in a consolidation range of about $6,000 between $81,000 and $87,200. A break below $81,000 would shift the bias to the downside and open the next support zones.
The Three Confluence Factors That Point to $97,000
Above $87,200, three separate technical factors line up near $95,000 to $97,000, giving a high-probability upside target. First, a rising trend line from recent lows projects into the $91,000 area and could carry that target into late November. Second, a measured move off the consolidation pattern points to $96,000–$97,000. Third, prior pivot highs confirm this confluence zone. Gareth emphasizes that the upside scenario only counts if Bitcoin breaks and holds above $87,200.
Downside Levels: $75,500 and the $67,000 Load Zone
A daily close below $81,000 would open the door to $75,500, where Gareth plans to buy only 25% of his position. The remaining 75% would be deployed in the $67,000 zone, which he considers a high-conviction buy area. He told Crypto Banter that he would not go all-in at $75,500 because the risk of a deeper flush remains. This staged approach helps manage risk and keeps emotions in check.
Why Gareth Soloway Holds No Swing Position in Bitcoin Right Now
Gareth currently holds no swing position in Bitcoin, long or short, because the price is stuck in a roughly $6,000 range. He prefers to wait for a clear breakout above $87,200 or a breakdown below $81,000 before committing capital. This disciplined approach avoids getting whipsawed in a choppy market. He still believes the cycle low is in until proven otherwise, but he respects the possibility of a retest of lower levels.
Ethereum and HBAR: Altcoin Setups Worth Watching
Ethereum remains in a range, with a heavy buy zone just below $2,000 and a $2,800 retest on a breakout. Gareth views sub-$2,000 as an attractive accumulation area for ETH. On HBAR, he took a swing trade with Smart Money Crypto members on a retrace to the scene of the crime, with a target near $0.10. These setups offer opportunities outside of Bitcoin, but they require patience and a clear plan.
How to Build a Game Plan and Avoid Emotional Trading
Having a game plan before entering a trade is essential to keep emotion out of the decision-making process. Many traders get whipsawed because they react to price movements without predefined levels. Gareth's approach involves identifying key support and resistance, setting buy zones, and sizing positions accordingly. For example, buying only 25% at $75,500 and reserving the rest for $67,000 reduces the risk of catching a falling knife. A written plan also helps traders stick to their strategy during volatile swings.
Common Questions from Traders
Viewers often ask about shorting Bitcoin on Coinbase, whether they can still use a referral link if they already have an account, and how to handle emotional trading without a plan. Gareth clarifies that Coinbase's platform may not offer direct shorting for all assets, so traders should check available features. Regarding referral links, existing users may still qualify if their account has been idle for 30 days or if they joined under someone else's link. As for emotional trading, the key is to define entry and exit points in advance and to avoid impulsive decisions based on short-term price action.
Useful Links
Final Thoughts
Bitcoin's bounce from $79,750 keeps the $81,000 support intact, but the market remains in a consolidation range. A breakout above $87,200 could trigger a move toward $95,000–$97,000, while a breakdown below $81,000 would open $75,500 and $67,000 as buy zones. Gareth Soloway's analysis on his channel provides a clear framework for navigating these levels with a disciplined game plan. For traders looking to act on these insights, signing up for Coinbase through Gareth's referral link offers tier-one fee pricing and potential bonuses.
Source: Bitcoin Came THIS Close to Breaking Down: $97K Next? · Markdown version
Questions & answers
What are the key Bitcoin levels to watch according to Gareth Soloway?
The critical support is $81,000 on a daily close, and the upside trigger is $87,200. Above $87,200, three factors converge near $95,000–$97,000. Below $81,000, the next levels are $75,500 and $67,000.
Why does Gareth hold no Bitcoin position right now?
Because Bitcoin is stuck in a roughly $6,000 range between $81,000 and $87,200, Gareth prefers to wait for a clear breakout or breakdown before taking a swing position. This avoids getting whipsawed in choppy conditions.
Can I still get tier-one fees on Coinbase if I already have an account?
Yes, according to the video, accounts that have been idle for 30 days may qualify, and viewers who joined under someone else's link may also be eligible. Check the referral link for details.
What is the HBAR swing trade setup mentioned?
Gareth took a swing trade on HBAR with Smart Money Crypto members on a retrace to the scene of the crime, with a target near $0.10. This setup is based on a technical retracement pattern.