Bitcoin Price Prediction: BTC/USD Swings Above $61,000 ByAzeez MustaphaPRO INVESTOR Updated: 23 October 2021 DisclosureWe sometimes use affiliate links in our content, when clicking on those we might receive a commission – at no extra cost to you. By using this website you agree to our terms and conditions and privacy policy. Join Our Telegram channel to stay up to date on breaking news coverage Bitcoin Price Prediction – October 23 The Bitcoin price restarts the uptrend after crossing above the critical barrier of $61,000 to touch the daily high of $61,750. BTC/USD Long-term Trend: Ranging (Daily Chart) Key levels: Resistance Levels: $68,000, $70,000, $72,000 Support Levels: $55,000, $53,000, $51,000 BTCUSD – Daily Chart Buy Bitcoin Now BTC/USD looks green today as the price hovers above the resistance level of $61,000 from the low of $59,650. However, a daily close above the $61,000 level may continue to increase the Bitcoin price to $62,000. At the moment, all eyes focus on the next hurdle at $62,000. However, traders should note that a consistent price increase would encourage more investors to join the market as bulls increase their positions. Bitcoin Price Prediction: Price May Break Higher At the time of writing, the Bitcoin price is moving marginally at its current price of $61,295 with a bullish movement. According to the daily chart, this marks a meaningful climb from the opening price of $60,682 level, therefore, it is important to note that the current movement remains below the 9-day moving average and could also climb above this barrier if the bulls put more effort. According to the daily chart, if the market decides to fall below the 9-day moving average, the Bitcoin price could go below the 21-day moving average, and if that barrier fails to hold the sell-off, traders could see a serious decline towards the support levels of $55,000, $53,000, and $51,000 respectively. All the same, any further bullish movement above the 9-day moving average may reach the resistance level at $68,000, $70,000, and $72,000 as the Relative Strength Index (14) moves above 60-level, suggesting a bullish signal into the market. BTC/USD Medium – Term Trend: Ranging (4H Chart) The 4-hour chart shows that the Bitcoin bears are still in play within the market keeping the Bitcoin price below the 9-day and 21-day moving averages. Although BTC/USD has not yet slipped below $60,000, it’s still in the loop of making a bounce back. BTCUSD – 4 Hour Chart Moreover, the Bitcoin price is currently hovering below the 9-day and 21-day moving averages at the time of writing. The upward movement may likely push the price to the nearest resistance of $64,500 and above while the immediate support lies at $59,000 and below. The Relative Strength Index (14) is moving around the 45-level, which indicates sideways movement. Looking to buy or trade Bitcoin (BTC) now? Invest at eToro! Buy Bitcoin Now 67% of retail investor accounts lose money when trading CFDs with this provider Read more: How to buy Bitcoin How to buy Cryptocurrency Join Our Telegram channel to stay up to date on breaking news coverage