Bitcoin (BTC) Price Analysis for October 18
Buyers are trying to seize the initiative on Saturday, according to CoinStats.
BTC/USD
The rate of Bitcoin (BTC) has risen by 1.11% since yesterday.
On the hourly chart, the price of BTC is far from the support and resistance levels. The volume is low, which means traders are unlikely to witness increased volatility by tomorrow.
On the bigger time frame, there are no reversal signals so far. In this regard, one should pay attention to yesterday's bar low of $103,530.
If bulls lose it, the decline may continue to the $100,000 area.
From the midterm point of view, sellers are also more powerful than buyers. If a breakout of the $100,426 support happens, the accumulated energy might be enough for a move to the $95,000 zone.
Bitcoin is trading at $106,909 at press time.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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