At $20,600 during the European trading day, Bitcoin maintained its bullish trend from the previous day. Despite the slow start to the month and its persistence into the last week of the month, which eventually led to an upward trend, October is often a favorable month for Bitcoin.
The Bitcoin market experienced a significant upward swing throughout the Asian session, and the negative attitude quickly vanished. As the trading day on Wednesday comes to an end, the price of BTC has surpassed $20,000 for the first time in a number of weeks.
Today’s Bitcoin Price
| DATE | BTC | USD |
|---|---|---|
| Today | 01 | 20,665.67 |
Bitcoin is currently worth $20,583 and has a $54 billion 24-hour trading volume. Over the past seven days, Bitcoin has increased by more than 7%.
After exiting a symmetrical triangular pattern at $19,250, bitcoin increased. As anticipated in the Bitcoin price prediction for October 26th, the BTC/USD pair has moved bullishly, breaking past immediate resistance levels at $19,900 and $20,430.
It is currently running into immediate resistance at $21,000, which is also the level that the 61.8% Fibonacci retracement extends to. The 50-day moving average also suggests purchasing above $19,600, while the RSI and MACD are also still in a buying zone, indicating a bullish run.
Near-term support for bitcoin is still located between $20,400 and $19,900. The next significant hurdle for Bitcoin, if its price crosses $21,000 today, is $22,500. Before BTC can return to its former all-time high once more, it probably won’t be for several months.
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