Crypto Mining

Bitcoin (BTC) Technical Analysis

Bitcoin (BTC) price peaked with the dollar on October 20, but the bulls were unable to sustain the breakout as bears pulled the price below the breakout level of $64,854 on October 21.

Bitcoin (BTC) Technical Analysis

Bitcoin (BTC) price peaked with the dollar on October 20, but the bulls were unable to sustain the breakout as bears pulled the price below the breakout level of $64,854 on October 21. This shows that the sellers are trying to trap the aggressive bulls. The bears tried to recover on October 22, but today's long wick candles show that traders are selling on small rallies. Strong support to watch on the downside is $57,778 at the 20-day EMA. If the price bounces back from this support, it will indicate that the sentiment is positive and that traders are buying on the dips. This will increase the likelihood of a break above the overhead resistance zone between $64,854 and $67,000. According to the analyst, the BTC price could rise to $75,000 later. On the other hand, if the price drops below the 20-day EMA, selling could accelerate and BTC price could drop to the 50-day SMA at $50,496.

Bitcoin (BTC) Technical Chart

Related Topics
Bitcoin Hash Rate Rises Despite Price Drop

Bitcoin Hash Rate Rises Despite Price Drop

Crypto Mining - The Bitcoin hash rate has increased drastically even after the price of the leading crypto asset slumped below the $50,000 price zone.

Crypto Community Investigates Why Cryptos Aren't Getting Attention

Crypto Community Investigates Why Cryptos Aren't Getting Attention

The crypto market has taken a big hit since January. The alt-crypto community is wondering why more people aren't taking notice of cryptocurrencies, ...

Bitcoin Price Made History: Highest Weekly Close!

Bitcoin Price Made History: Highest Weekly Close!

The Bitcoin price has created an upward technical model by recording the highest weekly candle ever. Bitcoin's previous record weekly close was ...