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PlanB said Bitcoin October closed at 77,430 USD，RSI has remained above 3 for 50 consecutive months, which he viewed as a signal of the start of a new bull market.
BlockBeats reports that trader Doctor Profit believes Bitcoin remains within a bullish fractal structure, and that 76,000 USD is key support; if it falls below this level, the risk of a decline 67,000 to 69,000 USD increases.
BlockBeats, citing analyst Axel Adler Jr., reported that BTC nearly 30 days’ trading range narrowed from 13%to 6%, and it has fluctuated for 9 consecutive days within the range of 80000 to 86000 USD. He said that the price rebounded after finding support near SMA 365.
Global equities and precious metals weakened, while Bitcoin at one point fell below 81000 USD; several institutional participants and traders still expect it to find support and rebound in the 80000 to 82000 USD range.
BlockBeats said that trader and chart analyst Peter Brandt released a XMR technical chart, believing its pattern resembles silver's before it rose to 125 USD, potentially signaling a substantial rally.
BlockBeats cited analyst Axel Adler Jr. as saying that BTC has declined by approximately October 2 to October 20, is testing 6%support, and the futures bull-bear index stands at 80,400 USD 46。
BlockBeats, citing Barchart, said that Bitcoin’s daily Bollinger Band width is at one of its narrowest levels in the past 2 year and a half, indicating that market volatility is low.
Analyst Doctor Profit says BTC the short-term pullback has ended and expects the price to potentially rise to 94,000 USD. He says he established a long position at 81,000 USD with 4 x leverage.
PANews cited analyst Michaël van de Poppe as saying that BTC the trading range is narrowing, and if it breaks above 82,000 USD the resistance level, it may accelerate upward toward 90,000 USD. He also believes the price may first retest below 80,000 USD.
BlockBeats reported that analyst Darkfost believes BTC Wave I may have ended, and the subsequent Wave II correction may decline to 74,600 USD; he still considers the medium-term trend positive.
BlockBeats reported that trader Doctor Profit said Bitcoin has retested the 50-day moving-average support and expects it to continue rising from current levels after this level holds.
Trader Killa stated that Bitcoin needs to form a higher low above 75500 USD and hold 80000 USD nearby; otherwise, the pullback may deepen.