Bitcoin (BTC) Price Analysis – Important Levels to Watch Right Now

6:45 am, Thu, 21 October 21

Current Bitcoin Data

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What is Bitcoin (BTC) Doing Right Now?

Bitcoin is currently trading around $64,500 and is cooling down from the big breakout it had yesterday. The major crypto-asset put a new all-time high of $66,974 and is now having a minor correction on the smaller timeframes. We can expect BTC to take a breather here before we see another leg up towards the $70,000 mark.

Bitcoin (BTC) Price Analysis 2021 October 21

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Analyzing the Charts

On the smaller timeframes, the first level we are watching for Bitcoin right now is the $64,200 mark. This area was acting as resistance previously and now we must hold it as support in order to stay bullish in the short term.

Bitcoin Price Analysis 2021 October 21

As long as Bitcoin is trading above this support we are still extremely bullish and will be expecting another upward movement soon. However, if we do break below this level, we can see some healthy correction for BTC and the next support we will be eyeing is at the $62,600 mark.

BTC Price Analysis 2021 October 21

On the other hand, if we continue towards the upside steadily the first resistance level we will need to get above is the $66,200 mark. Once we get above this level we will be interested in longing BTC and can expect it to put a new all-time high again.

Bitcoin (BTC) Price Analysis 2021 October 21

Conclusion: Final Verdict on Bitcoin (BTC)

Bitcoin is still moving in an uptrend and the next major target we are eyeing now is the $70,000 mark. Right now, Bitcoin is having a slight correction and once it recovers from it we can expect it to make another move up. The momentum is on Bitcoin’s side, and it is likely we have another bullish month for the crypto king in the future.

Bitcoin Price Analysis 2021 October 21

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