Cryptonews
EN

Bitcoin (BTC) Price Analysis for October 16

u.today

1 hour ago

Bitcoin (BTC) Price Analysis for October 16

The prices of most of the coins are going down, however, there are some exceptions to the rule, according to CoinStats. BTC/USD The rate of Bitcoin (BTC) has fallen by 0.55% since yesterday. On the hourly chart, the price of BTC is going down after a false breakout of the local resistance of $111,902. If the situation does not change by the end of the day, one can expect a further correction to the $109,000 mark. On the longer time frame, the rate of the chief crypto has tested the support of $109,683. If the daily candle closes near that mark or below it, the accumulated energy might be enough for a test of the $108,000-$109,000 range. From the midterm point of view, there are no reversal signals yet. In this regard, one should pay attention to the weekly bar's closure in terms of the $107,389 level. If its breakout happens, the decline may continue to the $100,000 area. Bitcoin is trading at $110,459 at press time.

https://u.today/bitcoin-btc-price-analysis-for-october-16-0?utm_source=CryptoNews&utm_medium=app