MARKET REVIEW 10/14:

$BTC TECHNICAL ANALYSIS:

In yesterday's analysis, I mentioned that BTC had reached the 62k zone, although the expectation was 61k4. However, it only stopped at 62k and then turned down. Looking at the price action on the H4 frame, it is clear that BTC has completed the correction phase and appeared a bullish candlestick pattern that has just touched the EMA 50 quite impressively. This brings a positive signal for the possibility of price growth this week, aiming at the 70k zone.

However, according to the heat map on the Liquidation Map with the 3D time frame, the 61k5 zone has not been reached yet (it could have been scanned yesterday, right? Coming to 62k with 500 prices left without scanning is definitely leaving orders for large investors). In my opinion, there is an 80% chance that this area will not be swept again.

On the D1 chart, BTC has agreed with H4 and there are many satisfactory signs for an increase, moving towards the 67 to 70k area. When looking at D1, we see that the trendline has been retested and confirmed with the bullish engulfing candlestick pattern. The MACD and RSI indicators are also showing bullish divergence signals with 4 touch points, which reminds of the 2 bottoms in July and August.

=> In conclusion, BTC this week, in my opinion, can reach 67-70k

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