Bitcoin Update:
Bitcoin reached the strong resistance we mentioned earlier at $66,000, then rebounded and broke the support of $62,000, and now returns to test it again. We are facing two possible scenarios:
1. Continuing the rise with the break of the resistance of $66,000, paving the way to reach the next resistance at $73,000.
2. Or Bitcoin falling to the support levels at $58,000 or $52,000.
The reasons for the possible decline are due to the RSI indicator reaching the overbought stage, indicating upcoming selling pressure. In addition, the dollar rebounded from the support, which may enhance this decline for Bitcoin.
This movement is short-term, and we are expected to witness a clear recovery for Bitcoin and the market between October 15 and 18. The market is still in a strong upward trend, and the best is yet to come.
