Therefore, the Bitcoin price prediction for today is around $19,800 to $19,950. However, the BTC price is trending within a bull flag in the short-term and hence carries the possibility of a significant breakout. The trading volume has squeezed compared to the previous day and hence a slow & steady upswing may be expected for the crypto ahead. Therefore, the BTC price is expected to hold the bullish momentum through out the day ahead. Since then, the token has sustained heavily above $19,500 while the bearish action appears to have halted to some extent. The Bitcoin price traded nearly flat above $19,000 for nearly a week, above the demand area, until the bulls uplifted the price above $19,500 recently. Source: Santiment WILL Bitcoin Price REACH $20,000 TODAY? Hence a significant upswing may be fast approaching. The MVRV ration(Mean value vs Realized value) is preparing for a rebound as it has been swinging below the range for quiet a long time indicating the price being heavily undervalued.Meaning, the market participants continued their activity on the Bitcoin Network irrespective of weather they bought the asset or sold. Despite the unfamous May 2022 crash and multiple events that followed the asset, the daily active address remained unaltered.
the whales holding 10K to 1000K BTC have constantly raised their holdings in the past 6 months While the BTC price remain unaffected, the whales continue to accumulate more BTC.This may signify that the traders continue to hold BTC regardless of the market variations. The supply on exchanges have been dropping from past 6 months as more and more tokens have fled out of the exchanges.In a bearish case, if the price fails to rebound, then an extended bearish action may drag the price close to $15,700.If the bulls withstand the bearish pressure, may uplift the price beyond $19,000 and surge high to reach $22,100.Therefore, the BTC price may break down from the bearish pattern and test the lower support at around $17,500 initially.Hence a major price action may be fast approaching as the trading volume is also on a rise.Bitcoin price is presently trading within a bearish descending triangle and has reached the apex of the triangle.Bitcoin price appears to have accumulating immense strength to undergo a parabolic recovery in the coming monthsīitcoin Price Prediction Today Current PriceĪdditional Read: Top Altcoins October 2022 Bitcoin Technical Analysis.The Bitcoin(BTC) price closed the previous day’s trade at $19,629.08 with a market capitalization of $375.55 billion & a circulating supply of 19.16 million BTC.WILL Bitcoin Price REACH $24,500 by the End of October 2022?.WILL Bitcoin Price REACH $20,000 TODAY?.
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