Bitcoin (BTC/USD) Market Breaker Block Signals Retracement Before Bullish Continuation
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Bitcoin Price Prediction – October 17
BTCUSD market Breaker Block (BB) signals retracement before bullish continuation. A massive pullback to the upside is very likely to price retrace into the breaker block.
The MACD indicator on this BTCUSD chart signals growing bullish momentum as the histogram shows increasing green bars, indicating buying pressure. The MACD line has crossed above the signal line, a bullish crossover that further confirms an upward trend. The Simple Moving Average (SMA) for the past 9 periods, currently at $65080, shows a positive slope, suggesting a continuation of bullish sentiment as long as price stays above this key level.
BTC/USD Market Key Levels:
Resistance Levels: $70000, $73840, $80000
Support Levels: $57480, $52530, $49050
BTC/USD – Daily Chart
The BTCUSD daily chart shows that the market’s overall trend is strongly bullish.
The price action highlights a significant shift in structure (BOS) after invalidating the $66550 swing high. Before the breakout, a swing low was formed around $59170, which acted as the springboard for the current uptrend.
There was a clear support and resistance flip around $65050, with this level now serving as the breaker block (BB) that may act as a retracement zone. If the price pulls back, it could dip into this breaker block region before resuming its bullish path.
What are the potential price targets for BTCUSD?
Looking ahead, BTCUSD is expected to retrace to around $65050 or slightly below, retesting the breaker block before moving higher. After this retracement, the next major resistance level at $70000 will likely be the target, with a possible extension toward $73840 if bullish momentum strengthens.
BTC/USD – Four-Hour Chart
BTCUSD shows signs of bearish reversal on the four-hour chart as the MACD lines approach a bearish crossover, with momentum weakening. The price has tested the $70000 resistance level and is likely to decline downward as it struggles to maintain momentum above the $68000 level.
A pullback to the breaker block near $66000 is expected, with further downside risk toward $65050 if the support breaks. A failure to hold this zone may signal a continued downtrend toward the next support at $59170.
Bitcoin (BTC) Current Statistics
The current price: $68740
Market Capitalization: $1,360,000,000,000
Trading Volume: $36,930,000,000
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