Bitcoin Price Analysis — October 28 (Daily Chart)
BTC appears to have steadied its descent above the 58K support and currently trades at 59.2K, +1% intraday. As long as bulls hold their ground above the upper-58K area today, the benchmark cryptocurrency should resume on an upwards journey towards 61K over the coming days.
However, a break below the 58Ks could trigger another selloff into the 56K -
54K consolidation zone. Nonetheless, my daily MACD indicator shows that the price has retreated fairly from overheated conditions.
Meanwhile, my resistance levels are at $60,000, $61,000, and $61,785, and my key support levels are at $58,000, $57,500, and $56,700.
Total Market Capitalization: $2.48 trillion
Bitcoin Market Capitalization: $1.11 trillion
Bitcoin Dominance: 44.9%
Market Rank: #1
However, a break below the 58Ks could trigger another selloff into the 56K -
54K consolidation zone. Nonetheless, my daily MACD indicator shows that the price has retreated fairly from overheated conditions. Meanwhile, my resistance levels are at $60,000, $61,000, and $61,785, and my key support levels are at $58,000, $57,500, and $56,700.
Total Market Capitalization: $2.48 trillion
Bitcoin Market Capitalization: $1.11 trillion
Bitcoin Dominance: 44.9%
Market Rank: #1
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