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BTC/USD in a Downward Correction as Bitcoin Battles $58.4K High

Bitcoin Fluctuates Between $57k and $58.Okay as Bitcoin Battles $58.4K High – October 14, 2021

Today, BTC/USD retraces to the help above $57,100 as Bitcoin battles $58.4K excessive . In earlier worth motion, consumers have been unable to maintain the bullish momentum above $57,000 excessive. On October 13, BTC’s worth rebounded to break the $57,000 resistance and the bullish momentum prolonged to the excessive of $58,400. However, the crypto has retraced to the breakout worth degree.

Resistance Levels: $50,000, $51,000, $52,000
Support Levels: $40,000, $39,000, $38,000

BTC/USD – Daily Chart
BTC/USD has retraced from $58,400 to $57,100. The $58,400 is the brand new peak worth of Bitcoin whereas the $57,100 is the breakout worth degree. After discovering help above $57,100, BTC’s worth has resumed a new uptrend. Buyers are anticipated to revisit the earlier highs to break above the resistance. Bitcoin is range-bound between $57,000 and $58,400 . The crypto will rally above the $60,000 excessive; if the BTC worth rebounds above the $57,600 help and the bullish momentum break the $58,400 resistance. A breakout above $58,400 resistance will speed up the upward transfer into the subsequent psychological worth degree. However, if the bulls fail to break above the $58,400 excessive, Bitcoin will fall and resume a downward correction between $57,000 and $58,400 worth ranges.

Venezuelan International Airport to Accept Bitcoin Payments

Freddy Borges is the Maiquetia airport director. The director indicated that a main worldwide airport in Venezuela is about to resume acceptance of cryptocurrencies like Bitcoin for cost for tickets and different providers. Simón Bolívar International Airport, additionally recognized as Maiquetia is getting ready to settle for cryptocurrency funds for providers. The airport will adjust to native trade requirements. It is positioned in downtown Caracas, the capital of Venezuela. According to the director, the introduction of crypto funds on the Maiquetia airport will lead to the corporate’s dedication to advance towards worldwide requirements and drive digital forex adoption. Borges indicated that the crypto cost choice will profit overseas vacationers, together with these from Russia.

 Bitcoin (BTC) Price Prediction: BTC/USD in a Downward Correction as Bitcoin Battles $58.4K High
BTC/USD – 4 Hour Chart

Meanwhile, BTC/USD has resumed its upward transfer as Bitcoin battles $58.4K excessive.Presently, crypto is dealing with rejection on the $58,400 excessive. Yesterday, the bulls broke the resistance at $57,000 to attain a excessive of $58,400. The uptrend will resume if consumers breach the latest excessive.

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