We have summarized the important details of the Bitcoin 16 October price view as follows:
Bitcoin made a big leap yesterday and returned to $ 8,000 at $ 6,700.
After this sudden fluctuation, we saw the price at $ 6,800 (according to Bitfinex data).
Bitcoin, which started its normal course of the day, has increased from 6,300 dollars to 6,800 band as a result of this surge.
Bitcoin October 16 price movements
Bitcoin showed horizontal price movements just below $ 7,000 at noon after the excessive fluctuation in the morning hours.
Bitcoin could not exceed the $ 7,000 threshold, showing a relaxation towards the evening hours, loosened up to $ 6,650. BTC / USD parity, which started at the level of $ 6,700 a day, has increased its price to more than $ 6,800, according to the data we have transferred from the Bitfinex crypto exchange.
We still expect the markets, which we see to be under the influence of the recent fluctuation, to continue their routine today.
Moreover, the upward movement of yesterday’s starting from 100 moving average levels per hour shows that 100 and 200 moving averages are important moving averages for the market.
Important technical indicators for Bitcoin
When we look at the BTC / USD hourly chart, the peak formation formed by the MACD in the negative region after the last correction seems to be ending. The re-entry of the MACD into the positive zone can accelerate the rise.
Stochastic oscillator in another indicator that supports the ascension movement. The stochastic is moving in a steep manner towards the overbought zone in the morning. However, RSI and CCI indicators have not yet participated in this upward movement with their horizontal position.
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