Crypto analysis: Will the price of Bitcoin go up soon after hitting a low point?

[Cryptocrit]

Over the past day, the price of Bitcoin (BTC) has stayed quite steady at about $26,150. It went as high as $26,881.24 and as low as $25,812.73 during this time. Overall, it went down by about 0.25% in the last 24 hours.

When we look at Bitcoin's performance, we see some important signs. First, the Relative Strength Index (RSI) is at 45, which is below the middle point of 50. This suggests that people are feeling a bit negative about Bitcoin right now. Another important thing is the 50-day Exponential Moving Average (EMA), which is at $27,200. Bitcoin's current price is lower than this, which means it's in a short-term downward trend.

Read more:
https://www.cryptocrit.xyz/2023/10/crypto-analysis-will-price-of-bitcoin.html

[Tel' Annaas]

Yesterday, I also had the perception that a long-term downtrend is expected until the end of the year, and I don't think it can rebound to the 30,000 price range.

[B.S.N.L]

Of course, there's a decrease, but short-term trading is not for the majority of people.

[Thiref Henrry]

Market makers manipulate prices, release fake information to legitimize the price movement they create, and many investors incurred losses due to false news yesterday.

[Rembroman]

If you don't know what to do in the market, try taking part in Fairspin's Fruit bounty bonanza tournament, play their games or bet on TFS - it's a great chance to win extra money.

[bom_bom]

If you don't know what to do in the market, try taking part in Fairspin's Fruit bounty bonanza tournament, play their games or bet on TFS - it's a great chance to win extra money.

That's a good idea, I'll have to try it.

[Alcor]

The cryptocurrency market is very difficult to predict in terms of its price growth, especially in the short term. Therefore, it was not surprising that your forecast turned out to be wrong. As you know, Bitcoin, like all cryptocurrencies, has a very high degree of price volatility. If it enters a price peak, then its price growth will certainly follow. The only question is when this will happen.

Currently, the price of Bitcoin is over $42,000. After the halving next year, its price should at least double, given that it already reached above $69,000 in November 2021.

[Jaephoenix]

I think its safe to say that the price recovery of bitcoin in specific(and crypto, as a general) has been dramatic, to say the least. This is an 75% increase, which is not bad for a three month investment, from October to December