Bitcoin (BTC) Price Prediction for October 23

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The market might need some time to accumulate energy to grow further, according to CoinStats.

BTCchart by CoinStats

BTC/USD

The price of Bitcoin (BTC) has declined by 1.1% over the last day.

Image by TradingView

Despite the false breakout on the hourly chart, the rate of BTC keeps trading near the support of $66,160. If buyers cannot seize the initiative and the daily bar closes around the mentioned mark, one can expect a drop to the $65,000 range soon.

Image by TradingView

On the daily time frame, the price of the main crypto is far from the main levels. In this case, one should focus on the interim zone of $66,000. 

If its breakout occurs, the correction is likely to continue to the $64,000-$65,000 area.

Image by TradingView

From the midterm point of view, bulls have failed to keep growing after the previous bullish bar closure. If the situation does not change, there is a possibility to see a test of the $65,000 zone soon.

Bitcoin is trading at $66,663 at press time.