Bitcoin ripped to fresh highs near $114,082 before snapping lower to around $108,365, detonating $748 million in liquidations across both sides. With veteran trader Peter Brandt saying he’s ready to go long if it breaks up and short if it breaks down, the message is clear: this is a trader’s market. Momentum is coiling between well-defined levels—those who plan for both outcomes will have the edge.

What just happened

BTC whipsawed between $106,800 and $114,082 in the last session, erasing most of its earlier surge. CoinGlass data shows $317 million BTC liquidations, split between $171 million from longs and $145 million from shorts—classic two-way squeeze behavior in a volatile range.

Why this matters now

Cautious sentiment into late October means crowded leverage is getting punished. Range conditions often precede expansion: when a clear break comes, it typically runs. Traders who define triggers and invalidations—not opinions—tend to capture the move without getting chopped.

Key levels and scenarios

The market is respecting clear lines: - Support: $106,800 intraday; higher-timeframe support near $102,000 - Resistance: session high at $114,082; major level at $120,000

Potential paths: - Bullish: A sustained reclaim and hold above $114,100 opens a run toward $120,000; momentum likely accelerates if shorts flip to chase. - Bearish: Loss of $106,800 puts $104,000–$102,000 in play; acceptance below $102,000 risks a deeper flush as late longs unwind.

Actionable checklist for traders

• Set alerts: $106,800, $114,100, $102,000, $120,000.
• Trade the confirmation: wait for a 4H close and retest to confirm breakout or breakdown.
• Define invalidation: if long on breakout, cut on failure back inside the range; if short on breakdown, exit on swift reclaim.
• Right-size risk: reduce leverage; size positions so a single failed breakout doesn’t dent your week.
• Watch derivatives: funding, open interest, and liquidation heatmaps. Compression plus rising OI often precedes a sharp expansion.
• Mind timing: volatile moves often occur at session overlaps and weekly/monthly closes.

Risk factors to respect

• False breaks: Liquidity hunts above $114k or below $106.8k can reverse fast.
• Derivative overhang: Aggressive leverage amplifies wicks and liquidation cascades.
• Macro/flows: Unexpected headlines, large on-chain transfers, or ETF flow shifts can abruptly change order-book dynamics.

The takeaway

Brandt’s stance is the pragmatic playbook: be direction-agnostic and let price lead. Prepare a two-sided plan around $114k and $106.8k, with the higher-timeframe battleground at $102k (support) and $120k (resistance). Execute only on confirmation, keep leverage modest, and protect capital—this range will resolve, and disciplined traders will be ready.

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