Bitcoin (BTC) Price Prediction for October 19

Some coins have returned to the red zone today, according to CoinStats.

BTC/USD

The rate of Bitcoin (BTC) has dropped by 0.27% over the last 24 hours.

On the hourly chart, the price of BTC has bounced off the local support level of $68,085. If the daily bar closes far from it, the upward move may continue to $68,500 by tomorrow.

On the bigger time frame, buyers remain more powerful than sellers while the rate is above $67,922. However, buyers might need more time to get energy for a further move.

In this case, sideways trading in the zone of $68,000-$69,000 is the more likely scenario.

From the midterm point of view, the price of BTC is on the way to the resistance of $73,794. If a breakout happens, one can expect a blast to a new all-time high.

Bitcoin is trading at $68,293 at press time.

Source