As of October 23, 2024, the price of Bitcoin (BTC) is expected to fluctuate between $63,852 and $71,033. The current market sentiment is relatively neutral, and the market is testing the resistance level at $68,743. If this resistance level is broken, BTC may further rise to $71,645 or higher levels. However, if the market fails to break through these key resistances, BTC may retrace to the support level at $65,113.
The technical indicators show that the current moving averages and Bollinger Bands for Bitcoin support significant volatility in the short term. If the price breaks below the current support level, there may be further retracement, but the overall trend still has the potential to rebound to higher price levels.
Investors should closely monitor changes in market sentiment as well as key support and resistance levels to adjust their trading strategies.
