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Bitcoin (BTC) Price Analysis for October 9

Sun, 10/09/2022 - 13:07
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Denys Serhiichuk
Can bulls keep rate of Bitcoin (BTC) above $19,000?
Bitcoin (BTC) Price Analysis for October 9
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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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Bears continue their pressure as most of the coins remain in the red zone.

Top 10 coins by CoinMarketCap


The rate of Bitcoin (BTC) has declined by 0.29% since yesterday, while the price has risen by 1.46% over the last week.

BTC/USD chart by TradingView

On the hourly chart, Bitcoin (BTC) has begun to rise after the false breakout of the support level at $19,331. At the moment, the price is near the local resistance at $19,524.

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If buyers can hold the gained initiative, the rise may continue to the $19,600 zone.

BTC/USD chart by TradingView

On the bigger time frame, Bitcoin (BTC) has once again bounced off the support level at $19,335. While the price is above it, there is a chance for local growth. If that happens, the next zone where sellers can return to the game is the area of $19,800.

BTC/USD chart by TradingView

From the midterm point of view, the situation is more bearish than bullish as the price is still near the support level of $17,592. If buyers lose the $19,000 mark, one can expect a sharp drop soon.

Bitcoin is trading at $19,503 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