Bitcoin Price Prediction for Today, October 29 – BTC Technical Analysis

bitcoin price prediction shows btc rising for the fourth consecutive bullish day as the technical indicator looks north.

bitcoin Prediction Statistical Data:

• bitcoin price now: $72,532.71
• bitcoin market cap: $1.44 trillion
• bitcoin circulating supply: 19.77 million btc
• Total bitcoin supply: 19.77 million btc
• bitcoin Coinmarketcap Ranking – #1

bitcoin (btc) exemplifies the potential rewards of early cryptocurrency investment. Starting from just $0.04865 in July 2010, bitcoin has skyrocketed by more than +149 million percent in 14 years, marking one of the most significant financial gains in history. Today, btc is trading between $68,473.60 and $72,685.30, reflecting its impressive long-term growth. Even after reaching an all-time high of $73,750.07 in March 2024, bitcoin remains one of the best options for investors, proving the value of early participation in promising crypto projects.

btc/USD Long-Term Trend: Bullish (Daily Chart)

Key levels:

Resistance levels: $79,000, $81,000, $83,000

Support Levels: $64,000, $62,000, $60,000

bitcoin/”>btc/USD currently maintains a long-term bullish stance, which is reflected by a steady upward movement on the daily chart.. However, the bullish strength of the market lacks full confidence due to the consolidation of bitcoin price within the range of $54,000 to $73,500 in recent months. This suggests that despite short-term bullish signals, a breakout on a longer time frame is necessary to confirm a lasting uptrend.

bitcoin Price Prediction: Would bitcoin Reach $73,000 Level?

Currently, bitcoin's 9-day moving average remains above the 21-day moving average, indicating bullish momentum as the price attempts to break above the upper boundary of the channel. However, bitcoin has struggled within these moving averages over the past few weeks, suggesting that btc/USD may experience a short-term bearish move before making a fresh push higher. This consolidation reflects a likely pullback to the $60,000 range before any sustainable breakout, with technical resistance and upcoming fundamental events adding pressure to the current trend.

However, if bitcoin manages a daily close above the $73,000 resistance level, it could open the door to gains towards $79,000, $81,000, and even $83,000. On the contrary, if it fails to stay above the moving averages, currently trading around $72,532, btc could fall towards the daily low of $69,581. If the decline deepens, the critical support levels of $64,000, $62,000, and $60,000 could offer stabilization. Additionally, this range-bound trading highlights the possibility of continued consolidation before a more definitive trend emerges.

btc/USD Medium-Term Trend: Bullish (4-hour chart)

The btc/USD 4-hour chart indicates that bitcoin is currently trading above the 9-day and 21-day moving averages, breaking above the upper boundary of the channel. This momentum could push the price towards the resistance level of $75,000 or higher. However, bitcoin may consolidate near the upper limit, so buyers should maintain their positions to support continued growth.

Looking at the 9-day and 21-day moving averages shows that btc price may continue the upward movement as its price rises northwards. On the contrary, if the coin decides to cross below the 9-day and 21-day moving averages, the support level of $70,000 or less can be located.

Meanwhile, @CryptoBheem, with more than 54,000 followers on x (formerly twitter), noted that while many are searching for this leak, caution is advised. The price could still experience a significant retest before rising to 74.1k. To minimize the possibility of a retest, lower time frames (LTF) should consolidate sideways above 71k. Be prepared to buy if the price drops.

<blockquote class="twitter-tweet” data-width=”550″ data-dnt=”true” wp_automatic_readability=”11.935897435897″>

twitter.com/search?q=%24BTC&src=ctag&ref_src=twsrc%5Etfw”>$btc update:

Everyone is chasing this leak.

Be careful as the price may undergo a retest before rising to 74.1k

LTF should start reducing sideways now above 71k if the probability of a retest is to be eliminated.

Get ready to buy this dip. pic.twitter.com/2z7BB4vKXG

-Ahmed (@CryptoBheem) twitter.com/CryptoBheem/status/1851275479548121340?ref_src=twsrc%5Etfw”>October 29, 2024

bitcoin Alternatives

A major factor supporting bitcoin's price dominance is its strong position compared to altcoins, which have not regained strength following the recent bearish momentum. bitcoin's high dominance ratio indicates that investor sentiment is primarily in favor of bitcoin over other cryptocurrencies. Meanwhile, Pepe Unchained presents a promising pre-sale opportunity in the meme coin sector, targeting early investor interest with an impressive $23 million raised so far. By gradually increasing the price during the pre-sale, early buyers benefit from lower entry points and profit potential before the coin is even listed.

PEPE MEME EASY COIN FROM 50X TO 100X

Despite its high-risk nature, Pepe Unchained's strategic incentives and technical framework make it a potentially rewarding option within the meme coin space, although extensive research is recommended.. A unique pricing structure benefits early investors with lower entry points, creating potential for immediate profits once the coin goes public.

Visit Pepe Unchained

Related news

Most Wanted crypto Launch: Pepe Unchained

• Layer 2 Meme Coin Ecosystem
• Featured on Cointelegraph
• SolidProof and Coinsult audited
• Staking Rewards – pepeunchained.com
• Over $10M Raised in ICO – Ends Soon