The coin outpaced the cryptocurrency market, which gained by 2.98% within the same time period. According to our Bitcoin price prediction, BTC will be worth $ 32,021 by October 6, 2023. This would mean an 18.00% increase in the price of BTC over the next 5 days.
Bitcoin has been on a roll recently, with the coin gaining 8.44% in the last 30 days. Bitcoin’s medium-term trend has been bearish, with BTC falls by -10.11% in the last three months. Bitcoin’s long-term outlook has been strong, with BTC currently showing a 44.86% one-year price change. Last year on this day, BTC was worth $ 19,314.
Bitcoin reached its all-time high price on November 10, 2021, when it peaked at $ 68,770. The current BTC cycle high is $ 31,804, while the current cycle low is $ 15,599. BTC has recently displayed minimal volatility, with the coin’s 1-month volatility standing at 1.79. In the last 30 days, Bitcoin has had 14 green days.
Today’s Bitcoin technical analysis – October 02, 2023
Bitcoin market sentiment is currently Bullish, with the Fear & Greed index reading Neutral. The key support levels to watch are $ 27,298, $ 26,618 and $ 26,270, while the key resistance levels are $ 28,326, $ 28,674 and $ 29,354.
Moving averages and oscillators for Bitcoin
Let us examine what some of the most prominent technical indicators are indicating. We’ll look over major moving averages and oscillators to obtain a better understanding of where Bitcoin stands in the market right now.
The Relative Strength Index (RSI 14) is a popular indicator for determining if an asset is now overbought or oversold. Bitcoin’s RSI 14 is currently at 57.03, indicating that it is in a neutral state.
The 50-day Simple Moving Average (SMA 50) considers the closing price of Bitcoin over the previous 50 days. Bitcoin is currently trading below the SMA 50 trendline, indicating a bearish indication.
Meanwhile, the 200-day Simple Moving Average (SMA 200) is a long-term trendline formed by taking an average of the last 200 days’ BTC closing price. BTC is currently trading below the SMA 200, indicating that the market is bearish.
Bitcoin’s 8.44% Monthly Surge: $32,021 in Sight by Oct 06, 2023,Bitcoin’s 8.44% Monthly Surge: $32,021 in Sight by Oct 06, 2023, Bitcoin’s 8.44% Monthly Surge: $32,021 in Sight by Oct 06, 2023, Bitcoin’s 8.44% Monthly Surge: $32,021 in Sight by Oct 06, 2023