Technical analysis by hungry_hippo about Symbol BTC on 10/16/2025

Well, this is what I was talking about all week. Kept bouncing off my bottom channel line, then finally broke through because MFI hasn't hit oversold yet on the daily. I shorted the first bounce and made $1k, closed it out because I figure it would bounce a few more time before heading lower. Now that it's broken the channel line, I'm not tempted to go long on this, but if I do, I'll buy IBIT calls to limit my losses. I'm going to post the ultimate bear scenario here in a few minutes.