Bitcoin (BTC) Price Analysis for October 26
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.

Buyers are not going to give up so easily, according to CoinStats.

BTC chart by CoinStats

BTC/USD

The rate of Bitcoin (BTC) has declined by 0.50% since yesterday.

Image by TradingView

On the hourly chart, the price of BTC is trading near the local support level of $33,976. If the bears’ pressure continues, the breakout may lead to a blast to the $33,500 area tomorrow.

Image by TradingView

On the bigger chart, traders should pay attention to the level of $35,198. Until the price is below that mark, there is a chance to see a correction as the rate has increased significantly.

If the local drop happens, the decline may continue to the $33,000 zone.

Image by TradingView

A more positive picture can be seen on the weekly time frame. If the bar closes near the $35,000 mark and with no long wick, the upward move is likely to continue to the $40,000 range next month.

Bitcoin is trading at $34,284 at press time.

About the author

Leave a Reply

Your email address will not be published. Required fields are marked *