CandleFocus Bitcoin (BTC) Price Prediction for October 17
2024-10-17
Author: Content Editor
The price of Bitcoin has fallen slightly in the past 24 hours, with bears gaining more strength. On the hourly chart, Bitcoin is showing a bearish trend near the support level of $66,789. If the daily candle closes around this level, there is a possibility of a breakout leading to a move towards the $66,500 range. On a larger time frame, Bitcoin is trading within a narrow range, and traders may only consider an upward move if the price surpasses the resistance at $67,922. If this occurs, Bitcoin may continue to rise towards the $69,000-$70,000 area. On the weekly chart, traders should watch out for the interim zone of $70,000, as reaching this level could provide enough momentum to challenge the resistance at $73,794. At the time of writing, Bitcoin is valued at $67,254.
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