Bitcoin (BTC/USD) Market Eyes Key Resistance Near $70,000 Amid Bullish Momentum
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Bitcoin Price Prediction – October 3
BTCUSD market eyes key resistance near $70,000 amid bullish momentum. The ongoing bullish leg began with the clear retraction from the bullish order block.
The BTCUSD chart shows bullish signals based on key indicators. The price is currently above the 9-day SMA (Simple Moving Average) at $61970, which confirms upward momentum. The MACD (Moving Average Convergence Divergence) indicator is also beginning to shift positively, with the MACD line nearing a crossover above the signal line, signaling increased buying pressure. The bullish crossover will confirm the trend if it sustains its trajectory.
BTC/USD Market Key Levels:
Resistance Levels: $66550, $70000, $73840
Support Levels: $57480, $52530, $49050
BTC/USD – Daily Chart
The BTCUSD daily chart shows that the market has begun another bullish phase.
Price action reveals a strong upward push after bouncing off support at $57480. BTC has already broken the short-term resistance at $63000 and is now challenging a key resistance at $66550.
The breakout structure (BOS) around this zone is crucial for confirming further movement. Previous consolidation near this level indicates that once BTC moves past this zone, it could surge quickly. The price has formed an order block (+OB) at $57480, offering a strong support area in case of a pullback.
What are the potential price targets for BTCUSD?
BTCUSD might target the psychological resistance at $70000 next. If momentum continues, further targets could include $73840, with a potential long-term high of $80000 if buying pressure remains strong. The downside risk is limited to support at $57480, but a breakdown below this level would push the price toward the $52530 mark.
BTC/USD – Four-Hour Chart
The BTCUSD four-hour chart is showing a clear bullish reversal after bouncing off the bullish order block. Price is currently above the 9-period SMA at $62330, suggesting continued upward momentum.
The MACD indicator is turning positive, indicating increasing buying pressure as the price approaches the next resistance at $66550. A breakout above this level could push BTC toward $70000.
Bitcoin (BTC) Current Statistics
The current price: $63100
Market Capitalization: $1,250,000,000,000
Trading Volume: $18,520,000,000
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