Bitcoin (BTC) price continues to forge a path north, or at least that is how investors would want it, after bouncing from a crucial support level. Wit
price could record a strong move soon after bouncing from a critical support and breaking past a formidable resistance.How do new token launches or listings affect cryptocurrency prices?
Accordingly, Bitcoin price could drop to the demand zone at around the $26,000 psychological level. In the dire case, the slump could see BTC breach the lower boundary of the demand zone at $24,843. The downtrend would be confirmed by a strong move under the last lower high of September 12 at $25,131.Conversely, increased buying momentum could see Bitcoin price breach the $26,640 resistance level, potentially going as far as the psychological $28,000 or higher, tagging the $29,020 roadblock.
Notice its Stochastic RSI at 96, with an almost perfect track record of falling once it gets to this level. Every fall of the Stochastic RSI is mirrored by the price, therefore adding credence to the bearish thesis.price could shatter the $1,624 barricade and extend into the $1,682 resistance level.
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