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BTC/USD Flirts Around $57,000 Resistance

Bitcoin Price Prediction – October 13

The Bitcoin worth prediction positive aspects 1.87% as bulls preserve working exhausting to nurture a bullish development above the transferring averages.

BTC/USD Long-term Trend: Bullish (Daily Chart)

Key ranges:

Resistance Levels: $62,000, $64,000, $66,000

Support Levels: $50,000, $48,000, $46,000

BTCUSD – Daily Chart

BTC/USD is at the moment buying and selling on the $57,050 resistance stage. The market worth is buying and selling above the 9-day and 21-day transferring averages, indicating an upward motion in cryptocurrency. For the previous few days, the Bitcoin worth has been in the direction of the north and within the context of the Bitcoin trade charge forecast; an upward development in the direction of $60,000 is anticipated.

Bitcoin Price Prediction: BTC May Break Above $58,000 Level

After a profitable break above $57,000, the Bitcoin worth prolonged its restoration to contact the each day excessive at $57,489. However, the following key resistance is close to $58,000, above which the worth would possibly take a look at $60,000. Meanwhile, on the draw back, the $55,000 stage is first rate assist to preserve the Bitcoin worth above the 9-day transferring common. However, the principle breakdown assist could also be forming close to the $56,000 stage.

Moreover, the Bitcoin worth rises to a resistance stage of $57,000 whereas the technical indicator Relative Strength Index (14) is contemplating the way in which above 70-level. Looking on the market motion, there is probably that it might expertise a fast retracement and merchants might even see the resistance ranges of $62,000, $64,000, and $66,000. On the draw back, the Bitcoin worth may fall beneath the 9-day transferring common at $52,000, and if that assist fails to maintain the sell-off, BTC/USD may see an additional decline in the direction of the assist ranges of $50,000, $48,000, and $46,000.

BTC/USD Medium – Term Trend: Bullish (4H Chart)

On the 4-hour chart, merchants anticipate the coin to achieve extra momentum and commerce above $57,000. On the opposite, if the promoting strain convey the coin beneath the 9-day and 21-day transferring averages, the $55,000 and beneath might come into play.

BTCUSD – 4 Hour Chart

However, if the consumers preserve the worth above the 9-day and 21-day transferring averages, merchants might anticipate a powerful bullish motion that might hit the resistance at $60,000 and above. Meanwhile, the technical indicator Relative Strength Index (14) is going through down, suggesting {that a} bearish sign might come to focus.

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