Could October Spark a Bitcoin Surge? Will $68K Be the New High?
The post Could October Spark a Bitcoin Surge? Will $68K Be the New High? appeared first on Coinpedia Fintech News
Bitcoin has proven itself as a solid store of value, but it hasn’t been great for big returns. After a big drop from $68,000 to $55,385, losing almost 20%, Bitcoin has been stuck in a tight range between $55,500 and $58,000 since September started.
But hope is on the horizon for October, often seen as a bullish month for Bitcoin. Historically, October has been bullish for Bitcoin 11 out of the last 9 years. Will this October follow the trend and bring Bitcoin back to its highs?
Survival of the $55K SupportAccording to prominent crypto trader Captain Faibik, this month is crucial for Bitcoin bulls. They need to keep the $55,000 support level strong to ensure Bitcoin can recover effectively.
If they succeed in holding this support, Bitcoin could bounce back and soon test the $68,000 resistance level again. This support level has been crucial in recent market moves, and its stability will play a key role in Bitcoin’s short-term direction.
$BTC Bulls need to survive this month and hold the $55k Support region.
If bulls manage to hold Successfully, Bitcoin will bounce back and retest the $68k Resistance in just a few days.
Keep in mind that the $68K-$69k Resistance is getting weaker with each retest.
In my… pic.twitter.com/fXAQ31LCV4
