Bitcoin (BTC) Price Prediction for October 2
10/02/2024 22:58Has price of Bitcoin (BTC) bounced back from current prices?
Original U.Today article
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The prices of the top 10 coins remain in the red zone, according to CoinStats.
BTC/USD
The rate of Bitcoin (BTC) has declined by 1.93% over the past 24 hours.
On the hourly chart, the price of BTC is rising after a false breakout of the local support level of $60,703. If the daily candle closes near resistance, the upward move is likely to continue to the $62,400 range.
On the bigger time frame, it is too early to think about a fast reversal. Meanwhile, one should pay attention to the crucial zone of $60,000.
If it breaks out, the accumulated energy might be enough for a test of the $59,000 mark soon.
From the midterm point of view, the rate of the main crypto is far from key levels. In this case, there are low chances to expect any sharp moves soon. Such a statement is also confirmed by the falling volume.
Bitcoin is trading at $61,222 at press time.
About the author
Denys Serhiichuk
With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at [email protected].
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