CandleFocus Bitcoin (BTC) Price Prediction for October 11
2024-10-11
Author: Content Editor
The price of Bitcoin has increased by 1.22% since yesterday, and buyers are showing resilience. On the hourly chart, BTC is experiencing an upward trend after breaking the local level of $61,246. If the daily bar closes above this level without a long wick, further growth is expected over the weekend. On a larger time frame, Bitcoin's price continues to rise after a false breakout of the $59,189 support, but more time may be needed for a significant move. Sideways trading in the range of $61,000-$63,000 is predicted. The weekly chart shows Bitcoin in the middle of a wide channel, with support at $53,550 and resistance at $73,794. Trading volume is decreasing, indicating a lack of readiness for a major price movement. Traders should anticipate ongoing sideways trading in the $60,000-$66,000 range. At present, Bitcoin is trading at $61,813.
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