• About
  • Advertise
  • Contact
Cryptopolitan
  • Home
  • News
    • All
    • Altcoin News
    • Binance News
    • Bitcoin Cash News
    • Bitcoin News
    • Blockchain News
    • Cardano News
    • ChainLink News
    • Cyber Security News
    • Dogecoin News
    • EOS News
    • Ethereum News
    • Exchange News
    • Industry News
    • Litecoin News
    • Monero News
    • Polkadot News
    • Regulation News
    • Research News
    • Ripple News
    • Scam News
    • Token Sale
    • Tron News
    Chainlink (LINK)

    Chainlink Price Prediction: Chainlink (LINK) battles $28 and $30 supports

    Litecoin’s Price stuck within selling pressure zone

    Litecoin Price Prediction: Litecoin’s price stuck at selling pressure Near $180 Support

    Cryptocurrency interest

    Cryptocurrency Interest: 40% of Goldman Sach’s clients have crypto exposure, survey

    Soulja Boy

    Soulja Boy sells his tweets as NFT

    ETH Price Forecast

    ETH Price Forecast: Ethereum on the verge of a 24% price upsurge

    Bitcoin price

    Bitcoin price fails to sustain bounce

    Sushiswap contract

    Sushiswap contract launches on 5 different networks

    ADA Price Prediction

    ADA Price Prediction: Cardano moves closer to a mammoth price upsurge aiming at $2

    XRP/USD pair struggling against $0.47 key resistance

    XRP/USD Price Prediction: XRP/USD pair struggling against $0.47 key resistance

    Trending Tags

    • Fintech
    • Bitcoin Industry
    • Stock Market
    • Digital Currency
    • Bitcoin
    • Altcoin
    • Blockchain
    • Binance
    • Security
    • Ripple
    • Litecoin
    • Ethereum
    • Dogecoin
    • Cardano
    • Tron
    • Token Sale
    • Industry
    • Exchange
    • Polkadot
    • ChainLink
  • Guides
  • Regulation
  • Price Index
    • Bitcoin Price
    • Ethereum Price
    • Ripple Price
    • Bitcoin Cash Price
    • Chainlink Price
    • Litecoin Price
    • Polkadot Price
    • Cardano Price
    • Binance Coin Price
    • Stellar Price
    • EOS Price
    • Tron Price
    • Monero Price
    • Dash Price
    • IOTA Price
    • Dogecoin Price
    • Altcoin Price
    • Sushi Price
    • Uniswap Price
  • Research
  • Scam
  • Events
No Result
View All Result
Cryptopolitan
  • Home
  • News
    • All
    • Altcoin News
    • Binance News
    • Bitcoin Cash News
    • Bitcoin News
    • Blockchain News
    • Cardano News
    • ChainLink News
    • Cyber Security News
    • Dogecoin News
    • EOS News
    • Ethereum News
    • Exchange News
    • Industry News
    • Litecoin News
    • Monero News
    • Polkadot News
    • Regulation News
    • Research News
    • Ripple News
    • Scam News
    • Token Sale
    • Tron News
    Chainlink (LINK)

    Chainlink Price Prediction: Chainlink (LINK) battles $28 and $30 supports

    Litecoin’s Price stuck within selling pressure zone

    Litecoin Price Prediction: Litecoin’s price stuck at selling pressure Near $180 Support

    Cryptocurrency interest

    Cryptocurrency Interest: 40% of Goldman Sach’s clients have crypto exposure, survey

    Soulja Boy

    Soulja Boy sells his tweets as NFT

    ETH Price Forecast

    ETH Price Forecast: Ethereum on the verge of a 24% price upsurge

    Bitcoin price

    Bitcoin price fails to sustain bounce

    Sushiswap contract

    Sushiswap contract launches on 5 different networks

    ADA Price Prediction

    ADA Price Prediction: Cardano moves closer to a mammoth price upsurge aiming at $2

    XRP/USD pair struggling against $0.47 key resistance

    XRP/USD Price Prediction: XRP/USD pair struggling against $0.47 key resistance

    Trending Tags

    • Fintech
    • Bitcoin Industry
    • Stock Market
    • Digital Currency
    • Bitcoin
    • Altcoin
    • Blockchain
    • Binance
    • Security
    • Ripple
    • Litecoin
    • Ethereum
    • Dogecoin
    • Cardano
    • Tron
    • Token Sale
    • Industry
    • Exchange
    • Polkadot
    • ChainLink
  • Guides
  • Regulation
  • Price Index
    • Bitcoin Price
    • Ethereum Price
    • Ripple Price
    • Bitcoin Cash Price
    • Chainlink Price
    • Litecoin Price
    • Polkadot Price
    • Cardano Price
    • Binance Coin Price
    • Stellar Price
    • EOS Price
    • Tron Price
    • Monero Price
    • Dash Price
    • IOTA Price
    • Dogecoin Price
    • Altcoin Price
    • Sushi Price
    • Uniswap Price
  • Research
  • Scam
  • Events
No Result
View All Result
Cryptopolitan
No Result
View All Result
Home News Bitcoin News

Bitcoin price prediction – BTC/USD holds $13,200 as investors catch safety flight

Gurpreet Thind by Gurpreet Thind
October 30, 2020
in Bitcoin News
5 min read
Bitcoin price prediction – BTCUSD holds $13,200 as investors catch safety flight
586
SHARES
3.2k
VIEWS
Share on FacebookShare on Twitter
  • Bitcoin price prediction is dwindling as bulls try hard to regain lost ground
  • BTC/USD price rejects $13,700 again today amid drying up volumes
  • Bitcoin ends the week on a relatively high note compared to traditional markets
  • $13,800 resistance is proving tough to cross as the US Presidential election nears
Bitcoin price prediction – BTC/USD holds $13,200 as investors catch safety flight 1
Cryptocurrency heat map by Coin360

Bitcoin price prediction – BTC price holding $13,200 as indecisive traders make zig-zag pattern

Bitcoin bulls are trying hard to regain lost ground as the pair is repeatedly rejected from its annual high of $13,864 posted on October 28. The set back is worrying the traders since traditional markets have crashed this week on the back of weak macro factors.

The BTC/USD pair is struggling to hold above the $13,300 level due to heavy selling pressure near the above resistances. The weakening uptrend is a cause for worry for Bitcoin price prediction as the pair has fallen around 7 percent in the last 12 hours. Currently, the pair is moving on the lower edge of a rising channel pattern. The price is unable to cross above the median line resistance due to low volumes and bearish selling.

Yesterday’s sharp correction wiped out $17 billion from the crypto market. Unlike traditional assets like stocks and shares, Bitcoin is currently posting higher lows on the hourly charts indicating there’s still breath left in the current bullish rally. The promising bullish sentiment is helping the BTC/USD pair hold its own in a bearish market. The global market capitalization is gradually contracting in anticipation of the next week’s US Presidential elections. Traders should expect Bitcoin price prediction to follow suit.

RelatedPosts

Bitcoin price fails to sustain bounce

BTC/USD Price Prediction: BTC/USD breaks psychological resistance and targets $53,000

Bitcoin returns above $50,000 again

Bitcoin Price Prediction : 24-Hour Chart Raises Hope of $50K Breakout

Bitcoin price movement in the last 4 hours demonstrates the resilience

Bitcoin price prediction – BTC/USD holds $13,200 as investors catch safety flight 2
Bitcoin price chart by TradingView

The global markets are experiencing a bearish sentiment due to various macro geopolitical reasons. The upcoming US Presidential elections, French terror attacks, new Coronavirus lockdowns, and technical data are all contributing towards the decline. The recently released US GDP data is a green line, though. However, Bitcoin price prediction is following a zig-zag pattern – neither declining nor rising rapidly. In the past 4 hours, BTC/USD touched a high of $13,675 and a low of $13,129.

The tremendous bullish rally that took the price from $10,500 to a 2020 high of $13,864 is still roaring. Amid the slowing momentum, the price is facing bearish pressure at higher resistance levels. The recent breakout can turn a ‘fakeout’ if the bulls are unable to post new highs since bears are lurking in the background and ready to take down $13,000 support.

US Dollar Index shows that investors are looking for a safety net as all-time highs are challenged across various market sectors. Bitcoin price prediction is now increasingly linked to geopolitical events and macro factors that disrupt traditional markets.

BTC/USD 4-hour chart – $13,500 emerging as major resistance

The region between $13,510–$14,000 is emerging as a substantial resistance area on the hourly charts. Multiple rejections from $13,500 reflect that sellers are ready to suppress bullish rallies at this price point. Both investors and day traders are eyeing $14,000 as the most significant hurdle or resistance on the journey to fresh new highs.

On the downside for Bitcoin price prediction, massive support is visible at $12,900, which has helped the pair bounce back several times. The region between $11,600 to $12,900 is fast emerging as a strong support zone due to healthy accumulation by institutional investors and BTC whales.

The RSI is looking neutral but remains in bullish territory. The MACD reading does show that the pair is stagnant in the current zig-zag trajectory. The bearish divergence on the hourly charts is still visible. In case the ‘Hell’s Candle’ pattern materializes on the hourly timeframes, the support zone between $12,710 to $12,890 is highly expected to hold the pair. Any drop from $12,500 would mean massive selloffs, which can print $11,800 on the hourly charts bringing Bitcoin price prediction in the deep-red territory.

Will Bitcoin rise as investors flee to safety

Fresh Coronavirus lockdowns and a looming political uncertainty in the United States are the two most important factors driving investor sentiment. European nations, including France, are gearing up for a fresh round of lockdowns as Coronavirus returns. The ‘Flu Season’ and oncoming winter can intensify the lethal impact of an already deadly virus.

$BTC – 24 weeks after halving (2016 vs 2020)

Earlier this year, we looked at Bitcoin post-halving at 10 weeks out

Now at 24 weeks post-halving, Bitcoin still looks good and is on track for new highs

Based on 2016, we've still got at least another year until the next peak high https://t.co/KTCzNTOSMd pic.twitter.com/hiuWAWMy7w

— Josh Rager 📈 (@Josh_Rager) October 30, 2020

In this uncertain scenario, an investor’s flight to safety is justified. The rising US Dollar Index (DXY) represents the current investment scenario, and the Bitcoin price prediction is no different. Bitcoin proved its safe-haven status a few months ago. The current price stability shows that it will hold well in the coming months. Bitcoin performed relatively well even when metals like silver went down 6 percent correction.

Bitcoin decoupling from markets further confirms the safe-haven status

The inverse correlation between the US Dollar Index and Bitcoin is growing stronger since March. The same can be inferred about gold. Thus, even as legacy markets fall, Bitcoin and gold are expected to rise further. Traders and BTC whales are expected to undertake more accumulation in case the markets plunge.

Bitcoin uncoupling? pic.twitter.com/ifro3DyXKx

— James O'Beirne (@jamesob) October 27, 2020

Bitcoin price prediction is definitely in a bullish trajectory. Even though crypto fans would love to witness an instant rise, but the current rally is part of a new bullish cycle that began after May halving. Bitcoin technical analysis shows the pair is likely to end the week above $13,200, concluding in a more sideways movement for the next few hours.

Disclaimer: The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Tags: cryptocurrency tradingcryptomarket
Gurpreet Thind

Gurpreet Thind

Gurpreet Thind is pursuing Masters in Electrical Engineering at University of Ottawa. His scholarly interests include IT, computer languages and cryptocurrencies. With a special interest in blockchain powered architectures, he seeks to explore the societal impact of digital currencies as finance of the future. He is passionate about learning new languages, cultures and social media.

Related Posts

Bitcoin price
News

Bitcoin price fails to sustain bounce

March 8, 2021
BTC/USD Price Prediction
Bitcoin News

BTC/USD Price Prediction: BTC/USD breaks psychological resistance and targets $53,000

March 8, 2021
Bitcoin
Bitcoin News

Bitcoin returns above $50,000 again

March 7, 2021

Follow Us

  • 40.9k Fans
  • 8.3k Followers

Latest News

Chainlink (LINK)

Chainlink Price Prediction: Chainlink (LINK) battles $28 and $30 supports

March 8, 2021
Litecoin’s Price stuck within selling pressure zone

Litecoin Price Prediction: Litecoin’s price stuck at selling pressure Near $180 Support

March 8, 2021
Cryptocurrency interest

Cryptocurrency Interest: 40% of Goldman Sach’s clients have crypto exposure, survey

March 8, 2021
Soulja Boy

Soulja Boy sells his tweets as NFT

March 8, 2021
ETH Price Forecast

ETH Price Forecast: Ethereum on the verge of a 24% price upsurge

March 8, 2021

Signup To The Daily Roundup

Get New Posts By Email:
Privacy Policy

Got a Story tip? Email Contact@Cryptopolitan.com

News

Guides
Bitcoin News
Blockchain News
Ethereum News
Industry News
Research News
Scam News
Regulation News
Exchange News
Bitcoin Price
Ethereum Price
Bitcoin Cash Price
Cardano Price
Dash Price

Stay Connected

Facebook
Twitter
Telegram
Youtube

Company

About
Contact
Write for us
Advertise with us
Privacy Policy
Cookie Policy
Comment Policy
Editorial Policy
Terms and Conditions
Crypto Portfolio Tracker

Exclusive Partners of

Footer 3

Got a Story tip? Email Contact@Cryptopolitan.com

cryptopolitan 1

News

Guides
Bitcoin News
Blockchain News
Ethereum News
Industry News
Research News
Scam News
Regulation News
Exchange News
Bitcoin Price
Ethereum Price
Bitcoin Cash Price
Cardano Price
Dash Price

Stay Connected

Facebook
Twitter
Telegram
Youtube

Company

About
Contact
Write for us
Advertise with us
Privacy Policy
Cookie Policy
Comment Policy
Editorial Policy
Terms and Conditions
Crypto Portfolio Tracker

Cryptopolitan brings you quality Blockchain and Cryptocurrency news, ICO reviews, crypto technical analysis, and other unique news insiders. We cover Bitcoin news, altcoins news, blockchain projects news, ICO news, regulatory developments and the confluence of news on the leading blockchain technologies.

© 2021 Cryptopolitan. All rights reserved. Terms | Privacy

No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Altcoin
    • Blockchain
    • Binance
    • Security
    • Ripple
    • Litecoin
    • Ethereum
    • Dogecoin
    • Cardano
    • Tron
    • Token Sale
    • Industry
    • Exchange
    • Polkadot
    • ChainLink
  • Guides
  • Regulation
  • Price Index
    • Bitcoin Price
    • Ethereum Price
    • Ripple Price
    • Bitcoin Cash Price
    • Chainlink Price
    • Litecoin Price
    • Polkadot Price
    • Cardano Price
    • Binance Coin Price
    • Stellar Price
    • EOS Price
    • Tron Price
    • Monero Price
    • Dash Price
    • IOTA Price
    • Dogecoin Price
    • Altcoin Price
    • Sushi Price
    • Uniswap Price
  • Research
  • Scam
  • Events

Copyright © 2020 Cryptopolitan.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.