BTC Price Analysis: Will Bitcoin Price Visit Yearly Highs in October?
The post BTC Price Analysis: Will Bitcoin Price Visit Yearly Highs in October? appeared first on Coinpedia Fintech News
Bitcoin (BTC) opened the first week of October with a bullish outlook, in line with statistical predictions. In the past 24 hours, Bitcoin’s price has surged by approximately 4.6 percent, bringing it to around $28,368 during the early London session on Monday.
This upward movement has also impacted the broader cryptocurrency market, with Ethereum (ETH) and Solana (SOL) seeing gains of approximately 3.4 percent and 14 percent in the past 24 hours.
Bitcoin Price Analysis
#Bitcoin CME GAP Warning!
— Crypto Rover (@rovercrc) October 2, 2023pic.twitter.com/74b9QopbIW
Renowned digital asset analyst Mikybull Crypto, who has been closely monitoring Bitcoin’s trade setup for months, anticipates that Bitcoin’s price will revisit this year’s high in the coming weeks. Furthermore, Bitcoin recently broke out of a micro-falling trend that began in early July.
If historical patterns hold, Bitcoin’s price will likely surpass the $30,000 mark amid a fresh bullish outlook. Notably, Bitcoin is gradually distancing itself from the support level of around $25,000 it has held for the past few months. A critical support level is expected to come into play in the event of a sudden market correction.
Despite the optimism, it’s worth noting that Bitcoin’s price opened the week with a noticeable gap on the Chicago Mercantile Exchange (CME) on Monday. Such gaps typically get filled over time, as markets tend not to forget. Traders and investors are advised to remain cautious in this dynamic environment.
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BTC Price Analysis: Will Bitcoin Price Visit Yearly Highs in October?
The post BTC Price Analysis: Will Bitcoin Price Visit Yearly Highs in October? appeared first on Coinpedia Fintech News
Bitcoin (BTC) opened the first week of October with a bullish outlook, in line with statistical predictions. In the past 24 hours, Bitcoin’s price has surged by approximately 4.6 percent, bringing it to around $28,368 during the early London session on Monday.
This upward movement has also impacted the broader cryptocurrency market, with Ethereum (ETH) and Solana (SOL) seeing gains of approximately 3.4 percent and 14 percent in the past 24 hours.
Bitcoin Price Analysis
#Bitcoin CME GAP Warning!
— Crypto Rover (@rovercrc) October 2, 2023
Renowned digital asset analyst Mikybull Crypto, who has been closely monitoring Bitcoin’s trade setup for months, anticipates that Bitcoin’s price will revisit this year’s high in the coming weeks. Furthermore, Bitcoin recently broke out of a micro-falling trend that began in early July.
If historical patterns hold, Bitcoin’s price will likely surpass the $30,000 mark amid a fresh bullish outlook. Notably, Bitcoin is gradually distancing itself from the support level of around $25,000 it has held for the past few months. A critical support level is expected to come into play in the event of a sudden market correction.
Despite the optimism, it’s worth noting that Bitcoin’s price opened the week with a noticeable gap on the Chicago Mercantile Exchange (CME) on Monday. Such gaps typically get filled over time, as markets tend not to forget. Traders and investors are advised to remain cautious in this dynamic environment.
Read More