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Bitcoin (BTC) Price Prediction for October 19

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Sat, 19/10/2024 - 16:04
Bitcoin (BTC) Price Prediction for October 19
Cover image via U.Today

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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Some coins have returned to the red zone today, according to CoinStats.

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Top coins by CoinStats

BTC/USD

The rate of Bitcoin (BTC) has dropped by 0.27% over the last 24 hours.

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Image by TradingView

On the hourly chart, the price of BTC has bounced off the local support level of $68,085. If the daily bar closes far from it, the upward move may continue to $68,500 by tomorrow.

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Image by TradingView

On the bigger time frame, buyers remain more powerful than sellers while the rate is above $67,922. However, buyers might need more time to get energy for a further move. 

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In this case, sideways trading in the zone of $68,000-$69,000 is the more likely scenario.

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Image by TradingView

From the midterm point of view, the price of BTC is on the way to the resistance of $73,794. If a breakout happens, one can expect a blast to a new all-time high.

Bitcoin is trading at $68,293 at press time.

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