Bitcoin (BTC) Price Prediction for October 5

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Buyers are controlling the initiative at the beginning of the weekend, according to CoinMarketCap.

Top coins by CoinMarketCap

BTC/USD

The rate of Bitcoin (BTC) has fallen by 1.18% over the last 24 hours.

Image by TradingView

On the hourly chart, the price of BTC might have found a local resistance level at $62,308. If the daily bar closes far from it, one can expect a correction to the $62,000 zone shortly.

Image by TradingView

On the bigger time frame, one should pay attention to the bar closure. If it happens near the $62,350 level or above, the growth may continue to the $63,000-$64,000 range next week.

Image by TradingView

On the weekly chart, neither side is dominating as the price of BTC is in the middle of the wide channel. Such a statement is also confirmed by the falling volume.

In this case, ongoing sideways trading in the area of $60,000-$66,000 is the more likely scenario.

Bitcoin is trading at $62,239 at press time.