Bitcoin Price Prediction for Today, October 24: BTC/USD Trades at $19,331 as Correction Lingers

The information provided on Inside Bitcoins is for educational and informational purposes only and should not be considered financial, investment, or trading advice. Cryptocurrency markets are highly volatile, and investing in digital assets carries significant risk. No profits are guaranteed, and you may lose some or all of your investment. Always invest responsibly and only with funds you can afford to lose.

Bitcoin Price Prediction for Today, October 24: BTC/USD Trades at $19,331 as Correction Lingers
Bitcoin Price Prediction for Today, October 24: BTC/USD Trades at $19,331 as Correction Lingers

Join Our Telegram channel to stay up to date on breaking news coverage

The Bitcoin price prediction is slightly under $19,500 amid the struggle to extend the bullish leg above the $20,000 resistance.

Bitcoin Prediction Statistics Data:

  • Bitcoin price now – $19,331
  • Bitcoin market cap – $372.7 billion
  • Bitcoin circulating supply – 19.1 million
  • Bitcoin total supply – 19.1 million
  • Bitcoin Coinmarketcap ranking – #1

BTC/USD Long-term Trend: Ranging (Daily Chart)

Key levels:

Resistance Levels: $22,000, $23,000, $24,000

Support Levels: $17,000, $16,000, $15,000

BTC/USD is trading around the 9-day and 21-day moving averages, as the market price remains above $19,000. During the European session today, the Bitcoin price trades near the $20,000 resistance. Initially, trading above $20,000 has been an uphill battle for the coin, while most of the price actions toward the upside stalled around this level.

Bitcoin Price Prediction: Bitcoin (BTC) Could Remain Flat

The break above $20,000 is going to be a big step for the Bitcoin price as this will allow them to expand their scope above $21,000, which has always been a restriction for the coin. Note that Bitcoin (BTC) is seen above the 9-day and 21-day moving averages, but it could still bring massively bullish signals for the market if the bulls play out. However, if the price should slump below the moving averages, the $18,000 level could be an important zone to keep an eye on. Once bulls flip this level into support, the following major supports for the world’s leading crypto could be $17,000, $16,000, and $15,000.

However, the king coin continues to hover around the $19,331 zone; there are two crucial price levels to pay attention to; the underlying support at $19,000 and the overhead resistance at $20,000, which will help determine where prices are likely to head next as the potential resistance levels could be located at $22,000, $23,000, and $24,000. Meanwhile, the technical indicator Relative Strength Index (14) suggests a bearish movement as the signal line moves below the 50-level.

BTC/USD Medium-term Trend: Ranging (4H Chart)

According to the 4-hour chart, BTC/USD needs to remain above the 9-day and 21-day moving averages to mitigate the short-term bullish pressure and allow for an extended recovery toward $19,500.  However, a higher resistance level may be found at $20,200 and above.

BTCUSD – 4-Hour Chart

On the other hand, the nearest support is below the moving average at $19,000, while a critical move below this level may increase the downside pressure to the support level of $18,700 and below. Meanwhile, the technical indicator Relative Strength Index (14) could be starting a bullish movement above the 50-level, which could push the coin to the positive side.

At the time of writing, the IMPT token is already on presale, and in less than a few weeks, the token managed to raise more than $7 million. However, with over 25,000 affiliates joining their network and using their services, IMPT has a solid foundation to make a significant leap once their presale ends.

Stage one of the Dash 2 Trade presale has been sold out and this took less than 4 days. At the moment, D2T is still cheap at 0.05 USDT in stage two, the amount raised so far approaches $2 million.

Related:

Join Our Telegram channel to stay up to date on breaking news coverage

Read next