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Bitcoin Price Prediction for Today, October 9: BTC Stays around $19,500 Level

Bitcoin Price Prediction for Today, October 9: BTC Stays around $19,500 Level
Bitcoin Price Prediction for Today, October 9: BTC Stays around $19,500 Level

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The Bitcoin (BTC) price prediction indicates sideways movement as the coin fails to cross above the 9-day moving average.

Bitcoin Prediction Statistics Data:

  • Bitcoin price now – $19,449
  • Bitcoin market cap – $373.3 billion
  • Bitcoin circulating supply – 19.1 million
  • Bitcoin total supply – 19.1 million
  • Bitcoin Coinmarketcap ranking – #1

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

Key levels:

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

Support Levels: $18,000, $17,000, $16,000

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BTC/USD is hovering at $19,449 but the king coin has not been able to stay above the 9-day and 21-day moving averages. At the moment, the Bitcoin price may continue to follow the sideways movement, but the daily chart shows that the formation of a bullish movement is likely to play out.

Bitcoin Price Prediction: BTC Price May Consolidates to the Upside

As the Bitcoin price moves toward the east, it is likely to rise and cross the upper boundary of the channel as the technical indicator Relative Strength Index (14) moves in the same direction below the 50-level and this could mean that the King coin may be ready for the upside.

From above, recovery may set in bit by bit as the bulls may bring the king coin above the resistance level of $20,000. However, a sustainable movement towards the north may cross above the channel, which could allow for an extended recovery in the direction of the potential resistance levels at $22,000, $23,000, and $24,000. On the downside, any bearish movement may cause the Bitcoin price to hit the supports at $18,000, $17,000, and $16,000.

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

Looking at the 4-hour chart, the Bitcoin price is likely to cross above the 9-day moving average. BTC/USD may cross above the 21-day moving average as the market is trying to recover from the bearish momentum. However, if the price faces the upside, it could locate the resistance level of $20,500 and above.

BTCUSD – 4-Hour Chart

Moreover, if the bearish movement steps back, the support level of $19,000 may not be able to hold the selling pressure. Therefore, BTC/USD is likely to fall to $18,500 and below if the price crosses the lower boundary of the channel. Nevertheless, the technical indicator Relative Strength Index (14) is likely to slide below the 40-level to confirm the bearish movement.

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