{"id":274537,"date":"2020-09-30T18:48:15","date_gmt":"2020-09-30T22:48:15","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=274537"},"modified":"2020-09-30T18:52:08","modified_gmt":"2020-09-30T22:52:08","slug":"bitcoin-btc-price-prediction-september-30-2020-2","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/bitcoin-btc-price-prediction-september-30-2020-2","title":{"rendered":"Bitcoin Price Prediction: BTC\/USD Hovers Above $10,700 for a Possible Breakout"},"content":{"rendered":"\r\n

Bitcoin (BTC) Price Prediction \u2013 September 30, 2020<\/strong>
Bitcoin is range-bound above the $10,700 support. As price consolidates, BTC is trading marginally above the range-bound zone. In the previous price action, the resistances at $10,880 and $11,000 have kept BTC from trending higher.<\/p>\r\n

Resistance Level<\/strong>s: $10,000, $11, 000, $12,000
Support Levels<\/strong>: $7,000, $6,000, $5,000<\/p>\r\n

\"\"<\/a>
BTC\/USD – Daily Chart<\/figcaption><\/figure>\r\n

Since September 24, BTC\/USD<\/a> rebounded and resumed consolidation above the $10,700 support. The price action is characterized by small body candlesticks called Doji and Spinning tops. The candlesticks explain that buyers and sellers are in a period of indecision. They are undecided about the direction of the market. As price continues to consolidate, BTC can rebound above the current support.<\/p>\r\n

A strong bounce will be sufficient to break the resistance at $10,880. Possibly, the momentum will extend to retest the $11,000 resistance. Alternatively, a breakout at the $11,000 resistance will end the current range-bound movement. At this point, the market will rally above $11,500 and subsequently hit the $12,000 overhead resistance. However, if BTC fails to rebound, the current price fluctuations will linger on.

Bitcoin Indicator Reading<\/strong>
Bitcoin is at level 49 of the Relative Strength index period 14. As the price is at the midpoint, it shows a clear balance between supply and demand. The EMAs are horizontally flat and suggest that the market is range-bound that can lead to a breakout or breakdown of prices.<\/p>\r\n

\"\"<\/a>
BTC\/USD -Daily Chart<\/figcaption><\/figure>\r\n

As the market continues its consolidation above $10,700, it is uncertain where the market will trend. As the bulls failed to break into previous highs, there is a tendency for the bears to attempt the psychological support at $10,000. In recent times, the bulls have defended the support at $10,000. However, if the bears break the $10,000 or $9,800 support, the Fibonacci tool analysis will hold. That is, Bitcoin will reach the low 1.272 Fibonacci extension of $9,283.20 low.

<\/p>\r\n","protected":false},"excerpt":{"rendered":"

Bitcoin (BTC) Price Prediction \u2013 September 30, 2020Bitcoin is range-bound above the $10,700 support. As price consolidates, BTC is trading marginally above the range-bound zone. 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