Bitcoin (BTC) Price Analysis: BTC Holds Crucial Support Level Above $65K, What's Next?-web3.0-php.cn

Home

web3.0

Bitcoin (BTC) Price Analysis: BTC Holds Crucial Support Level Above $65K, What's Next?

DDD

Oct 26, 2024 pm 03:30 PM

bitcoin Price Prediction Bullish Trend $77k

Bitcoin is currently holding a crucial support level on the price chart, holding above $65,000. Although there has been a recent short-term drop

Bitcoin (BTC) Price Analysis: BTC Holds Crucial Support Level Above K, What's Next?

Bitcoin (BTC) is observing a crucial support level on the price chart, remaining above the $65,000 zone. While there was a brief short-term drop, BTC still shows signs of being oversold. This downturn coincided with major news impacting the crypto market, which was analyzed by Crypto World analyst Josh.

Recently, news emerged that the U.S. government had launched an investigation into Tether (USDT), the leading stablecoin. This news was first reported by the Wall Street Journal, though Tether’s CEO has refuted these claims, stating that the firm is not being investigated. Following the initial news, BTC price dropped by around $1,000, but it recovered slightly after the CEO’s denial.

Throughout its history, there has been a lot of speculation and fear (often referred to as “FUD”) surrounding Tether, yet it has continuously remained the top stablecoin despite these claims.

Bitcoin Price AnalysisFour-Day Chart

On the four-day chart, BTC is still trading above the crucial $65,000 line. Maintaining this level is essential for sustaining a bullish long-term trend. If BTC closes below this threshold, it could indicate a bearish trend.

Short-Term Price Action

At the moment, BTC is trading within a sideways range of approximately $66,700 to $68,300. This range indicates a neutral short-term outlook, as the price oscillates without clear momentum. The Relative Strength Index (RSI) suggests that we may see some sideways action or a slight pullback, which could reset the RSI for potential upward movement later.

If BTC crosses above this resistance level, it may trigger a short squeeze, pushing prices higher. However, falling below the support level could liquidate long positions. There isn’t a substantial amount of liquidity immediately below the current price, which means downward movement could be limited.

The above is the detailed content of Bitcoin (BTC) Price Analysis: BTC Holds Crucial Support Level Above $65K, What's Next?. For more information, please follow other related articles on the PHP Chinese website!

Statement

The content of this article is voluntarily contributed by netizens, and the copyright belongs to the original author. This site does not assume corresponding legal responsibility. If you find any content suspected of plagiarism or infringement, please contact admin@php.cn

The latest inventory of the top ten digital currency exchanges in the world in 2025 and analysis of advantages and disadvantagesApr 22, 2025 am 08:33 AM

The top ten digital currency exchanges in the world in 2025 are: Binance, OKX, Gate.io, Coinbase, Kraken, Huobi, KuCoin, Bybit, Bitstamp and Upbit. 1. Newbie/institutional users should choose Coinbase and Kraken because of their strong security and compliance and transparency. 2. High frequency/derivative traders are suitable for use with Binance, OKX and Bybit, providing low rates and high liquidity. 3. Users who explore small currencies can choose KuCoin and Gate.io, but they need to pay attention to diversifying risks. 4. Users with localization needs can choose Huobi (Asia), Upbit (South Korea) and Bitstamp (Europe).

Top 10 virtual currency trading platforms with the lowest handling feeApr 22, 2025 am 08:30 AM

Binance spot trading fee is 0.1%, and holding BNB can be reduced to 0.025%; OKX rate is 0.1%-0.2%, with a minimum of 0.02%; Gate.io rate is 0.2%, with a minimum of 0.10%; FTX rate is 0.02%-0.05%, but has filed for bankruptcy; Coinbase Pro rate is as low as 0.05%, ordinary users; Kraken rate is 0.16%-0.26%, with a minimum of 0.10%; Bitfinex rate is 0.1%-0.2%, with a minimum of 0.02%; Huobi rate is 0.2%, with a minimum of 0.02%; KuCoin rate is 0.1%, with a minimum of 0.02%; Bithumb rate is 0.15%, with a minimum of 0.02%; Huobi rate is 0.2%, with a minimum of 0.02%; KuCoin rate is 0.1%, with a minimum of 0.02%;

A inventory of special services for major virtual currency trading platforms around the worldApr 22, 2025 am 08:27 AM

The special services of global virtual currency trading platforms include: 1. Comprehensive ecological platforms such as Binance and OKX, providing a variety of cryptocurrency trading pairs and ecosystems; 2. Compliance and security platforms such as Coinbase and Gemini, emphasizing regulatory compliance and user asset security; 3. Professional trading platforms such as Bitfinex and Kraken, focusing on high-leverage trading and technical support; 4. Innovative service platforms such as Crypto.com and FTX, launching innovative financial products; 5. Regional featured platforms such as Bitstamp and Huobi Global, providing localized services and compliance solutions.

Top 10 recommended virtual currency trading platforms for cross-border transactions

When choosing a cryptocurrency exchange, priority is given to compliance, liquidity, service type and regional adaptation: 1. Compliance: Choose a platform regulated by SEC, FINCEN or the EU, such as Coinbase, Bitstamp. 2. Liquidity: Binance and OKX are suitable for large-value trading. 3. Service type: Newbie choose Coinbase, derivative traders choose Bybit or Bitfinex. 4. Regional adaptation: Asian users choose Huobi, European and American users choose Kraken.

Top 10 recommended security rankings for virtual currency trading platforms in 2025

When choosing a cryptocurrency exchange, you should consider: 1. Compliance, and give priority to platforms regulated by SEC, FINCEN or the EU, such as Coinbase, Bitstamp; 2. Liquidity, Binance and OKX are suitable for large-scale trading; 3. Service type, novices choose Coinbase, derivative traders choose Bybit or Bitfinex; 4. Regional adaptation, Asian users choose Huobi, European and American users choose Kraken.

Top 10 latest releases of virtual currency trading platforms for bulk transactionsApr 22, 2025 am 08:18 AM

The following factors should be considered when choosing a bulk trading platform: 1. Liquidity: Priority is given to platforms with an average daily trading volume of more than US$5 billion. 2. Compliance: Check whether the platform holds licenses such as FinCEN in the United States, MiCA in the European Union. 3. Security: Cold wallet storage ratio and insurance mechanism are key indicators. 4. Service capability: Whether to provide exclusive account managers and customized transaction tools.

A list of top ten virtual currency trading platforms that support multiple currenciesApr 22, 2025 am 08:15 AM

Priority is given to compliant platforms such as OKX and Coinbase, enabling multi-factor verification, and asset self-custody can reduce dependencies: 1. Select an exchange with a regulated license; 2. Turn on the whitelist of 2FA and withdrawals; 3. Use a hardware wallet or a platform that supports self-custody.

The top ten free platform recommendations for real-time data on currency circle markets are releasedApr 22, 2025 am 08:12 AM

Cryptocurrency data platforms suitable for beginners include CoinMarketCap and non-small trumpet. 1. CoinMarketCap provides global real-time price, market value, and trading volume rankings for novice and basic analysis needs. 2. The non-small quotation provides a Chinese-friendly interface, suitable for Chinese users to quickly screen low-risk potential projects.