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Bitcoin (BTC) Price Analysis for October 27

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Thu, 27/10/2022 - 22:00
Bitcoin (BTC) Price Analysis for October 27
Cover image via www.tradingview.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

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Bulls seem ready to keep the growth as most of the coins are rising.

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Top 10 coins by CoinMarketCap

BTCUSD

Bitcoin (BTC) is one of the least-growing coins, rising by less than 1%.

BTC/USD chart by TradingView

Despite the rise, Bitcoin (BTC) is returning to the support level of $20,463. If bulls cannot keep the growth going, there are high chances to see a fall below the mentioned mark tomorrow.

BTC/USD chart by TradingView

On the daily time frame, Bitcoin (BTC) has fixed in the bullish zone, which means that the upward move may last for a few days.

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If that happens, traders might see a return to the zone around $21,000 and above.

BTC/USD chart by TradingView

A similar situation can be seen on the weekly chart; however, one needs to wait until the bar closes. If the closure occurs above the $20,500 mark, the upcoming week might also become bullish for the leading cryptocurrency.

Bitcoin is trading at $20,604 at press time.

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