October 3 Current Bitcoin Price Analysis: Will BTC Continue to Fall?

  • Bitcoin has overcome the short-term downtrend, indicating a slower initial descent. Breaking the resistance level of $26,968, it provided a positive signal from the inverse head and shoulders pattern.
  • The currency is moving within a rectangle formation between support at $25,900 and resistance at $32,145. Once broken, it indicates a new direction for the currency.
  • Current Bitcoin price is $27,426.67, with a 24-hour trading volume of $15,254,855,099 USD. Bitcoin has lost 3.10% in the last 24 hours.

Bitcoin failed to stay above the critical $28,000 level: Critical support levels in BTC price! Current BTC short, medium and long term analysis!

Short-Term BTC Analysis

btc-usdt-short-term
BTC/USDT

Bitcoin has overcome the short-term downtrend, indicating a slower initial descent. Breaking the resistance level at $26,968, it provided a positive signal from the inverse head and shoulders pattern. Further upward movement signals 28,631 or more. The currency’s support points are at $27,100, and resistance points are at $29,700. Volume has been high at previous price peaks and low at price bottom levels. The volume balance is also positive, strengthening the currency. Overall, the currency is technically evaluated as positive in the short term.

Medium-Term BTC Analysis

btc-usdt-medium-term
BTC/USDT

Bitcoin has overcome the upper limit of the medium-term downtrend channel, indicating a slower initial descent. The currency is moving within a rectangle formation between support at $25,900 and resistance at $32,145. Once broken, it indicates a new direction for the currency. Breaking the resistance level at $26,968, it provided a positive signal from the inverse head and shoulders pattern. Further upward movement signals 28,631 or more. The currency has slightly broken resistance at $27,300. Once broken, it predicts further upward movement. Positive volume balance indicates aggressive buyers and passive sellers, strengthening the currency. Overall, the currency is technically evaluated as positive in the medium term.

Long-Term BTC Analysis

btc-usdt-long-term
BTC/USDT

Bitcoin has broken the base of a long-term uptrend channel, indicating a slower initial rise. The currency is moving within a rectangle formation between support at $25,900 and resistance at $32,145. Once broken, it indicates a new direction for the currency. The currency is between support at $25,600 and resistance at $31,000. Positive volume balance strengthens the currency in the short term. RSI shows a negative divergence, indicating a potential downward reaction. Overall, the currency is slightly positive in the long term from a technical perspective.

Bitcoin Price

The current Bitcoin price is $27,426.67 USD, with a 24-hour trading volume of $15,254,855,099 USD. Bitcoin has lost 3.10% in the last 24 hours. According to the current CoinMarketCap ranking, Bitcoin is ranked 1st with a market value of $534,901,725,441 USD. There are 19,502,975 BTC tokens in circulation.

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