Bitcoin as of October 31, 2022 – Problem Block Ahead

Until despite everything – Bitcoin (BTC) price subtracted from my $20,000 and $21,000, with a block just paying out the difference.

This Bitcoin price analysis is brought to you in collaboration with CryptoTrader™ and its algorithmic trading solution finally accessible to individuals.

Two potential reds and two greens for Bitcoin price

Just before I unsuccessfully attempted to regain $21,000 on October 30, 2022, Bitcoin price is at the record point with the second consecutive red luster.

The price of the cryptocurrency fell as low as $20,268 on Bitfinex today, October 31, 2022. Bitcoin traded at $20,423 at the time of writing this article. They are currently recorded in a daily loss of 1.13%

Trader Rekt Capital agreed with him that Bitcoin made a weekly close above $20,000, “for the first time in almost two months.”

Publication of Rekt Capital – Source: Twitter

He will also share a chart to monitor that Bitcoin will achieve a monthly close in the red, if the cryptocurrency ends the month below support around $20,000.

Bitcoin as of October 31, 2022 – Problem Block Ahead
Publication of Rekt Capital – Source: Twitter

FOMC and a block at $30,000 in attention to one direction

This week, markets are watching Bitcoin’s reaction to the upcoming FOMC announcements, which were due in two days. A 75 basis point hike is expected for November, more observers are mainly interested the increase according to.

The Material Indicators platform breaks down into a graphical number of Binance’s order books, while pointing to a ” $46 million block around $30,000. If that block fell “into the active trading range, it will drive the price down.” Otherwise, Bitcoin “should soar”. The FOMC announcements could then serve as a “ catalyst “.

BTC price: a decisive block at $30,000
Publication of the indicated material – Source: Twitter

Defense support to prevent Bitcoin price response

In three judicial terms, the price of Bitcoin and therefore does not allow to break through a resistance zone that prevents it from reprimanding the $21,000.

In terms of support, while the cryptocurrency is trading around $20,365, Crypto trader Tony points to the existence of a holding zone around $20,100-$20,300, on a Bitcoin price chart on 4 hours.

Bitcoin price: support zone at $20,100 - $20,300
Message from Crypto Tony – Source: Twitter

Based on recent fluctuations, the trader believes that if Bitcoin loses its support, it will fail to deal with “ Answer » and « bearish trials “.

Will the macro fish be good this Wednesday for Bitcoin price? The cryptocurrency remains in staging territory, participating in the next event that could push it above $21,000, or pull it back below $20,000.

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