Bitcoin (BTC) Price Prediction for October 23

10/23/2024 22:43
Bitcoin (BTC) Price Prediction for October 23

Has local correction of Bitcoin (BTC) ended yet?

Original U.Today article

Bitcoin (BTC) Price Prediction for October 23

Cover image via U.Today

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

The market might need some time to accumulate energy to grow further, according to CoinStats.

Article image
BTCchart by CoinStats

BTC/USD

The price of Bitcoin (BTC) has declined by 1.1% over the last day.

Article image
Image by TradingView

Despite the false breakout on the hourly chart, the rate of BTC keeps trading near the support of $66,160. If buyers cannot seize the initiative and the daily bar closes around the mentioned mark, one can expect a drop to the $65,000 range soon.

Article image
Image by TradingView

On the daily time frame, the price of the main crypto is far from the main levels. In this case, one should focus on the interim zone of $66,000. 

Related

DOGE Price Prediction for October 22

If its breakout occurs, the correction is likely to continue to the $64,000-$65,000 area.

Article image
Image by TradingView

From the midterm point of view, bulls have failed to keep growing after the previous bullish bar closure. If the situation does not change, there is a possibility to see a test of the $65,000 zone soon.

Bitcoin is trading at $66,663 at press time.

About the author

article image

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].

Related articles

Advertisement

TopCryptoNewsinYourMailbox

TopCryptoNewsinYourMailbox

Read more --->