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Bitcoin (BTC) Price Analysis for October 13

Thu, 10/13/2022 - 16:05
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Denys Serhiichuk
Do bulls have power for local bounce back?
Bitcoin (BTC) Price Analysis for October 13
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Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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The cryptocurrency market has continued the drop as none of the top 10 coins is trading in the green zone.

Top coins by CoinMarketCap


Bitcoin (BTC) is one of the least falling coins, going down by 3% over the last 24 hours.

BTC/USD chart by TradingView

On the local chart, Bitcoin (BTC) has formed the support level at $18,183 and the resistance at $19,002. At the moment, the price is located in the middle of the channel, which means that one should not expect any sharp moves by the end of the day.

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Thus, the ATR has also passed, confirming the trading around $18,600 until tomorrow.

BTC/USD chart by TradingView

On the longer time frame, the situation is unclear as the rate has not updated the low formed in June. From another point of view, buyers have lost the vital $19,000 mark. Until the price is below that mark, traders should not expect any reversal. Thus, the selling volume remains high, which means that bears are not going to give up so easy.

BTC/USD chart by TradingView

The weekly chart remains bearish for Bitcoin (BTC) as the price is getting closer to the support level. If the bar closes near the $18,000 mark, it may lead to the test of the $17,000-$17,500 zone by the end of the day.

Bitcoin is trading at $18,817 at press time.

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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at