“I think we’re going to see a *MASSIVE* move up by Bitcoin soon,” said crypto analyst ‘Colin Talks Crypto’ on X on Monday. He added that we are at a “pivotal moment right now,” and BTC is “going to soar soon, and not look back.”

The bullish prediction came as Bitcoin tanked around $4,000 from $116,000 to just over $112,000 on Monday in the latest leverage market flush.

The analyst was not worried by short-term dips, identifying multiple nested chart patterns such as an inverse head-and-shoulders within another head-and-shoulders, all contained in a larger inverse head-and-shoulders formation inside a broadening wedge.

They believe these patterns will cascade together to drive a major breakout and Bitcoin to $140,000 before the end of this year.

Leverage to Blame Again

“Right now, everyone is second-guessing if the bull run is over,” he said before adding that this is the “perfect sentiment” because it contrasts with euphoria, which would be a top signal.

“The timing of this move also makes sense within the context of lengthening cycles and the fact that we havent seen a blow-off top yet. No metric or indicator I’m watching suggests a top is in.”

I think were going to see a *MASSIVE* move up by Bitcoin soon.

We are at a pivotal moment right now, in my eyes. $BTC is going to soar soon, and not look back.

We have an inverse head-and-shoulders (blue) followed by a head-and-shoulders (orange) which may make up the right… https://t.co/0svF0uoB2t pic.twitter.com/dOEFwzHsuu

‘Elite Crypto’ observed that Bitcoin remains positive for September despite this week’s 3.5% decline. The asset is still up almost 4% since the beginning of this month, which is usually a bearish one.

“With just 8 days left in the month, don’t forget October has historically been a blast,” they added.

“Uptober should be fun, average returns stand at 21.89% even a 10% should put altcoins to the moon.”

“Uptober’s track record shows why patience beats emotion,” commented Hunters of Web3 founder ‘LANGERIUS’ in response to the often shared sentiment chart.

Don’t get shaken out 9 days before Uptober pic.twitter.com/0BUMBZn6P3

Crypto Market Outlook

Markets appear to have stabilized following Monday’s $150 billion leverage-induced sell-off. Total capitalization is down 2% on the day at around $3.96 trillion.

Bitcoin has hit support just over $112,000, where it currently trades and is down 9.5% from its all-time high, which is shallower than the 13% it fell to earlier this month.

Ether took a bigger hit, dropping 4% in a fall below $4,200, its lowest level for a fortnight. There was much more leverage flushed from altcoins, causing bigger drops for spot prices, with many being down double figures over the past week.