Bitcoin (BTCUSD) Price to Continue its Uptick Trend

Bitcoin (BTCUSD) Price Forecast: October 28

Following an increase in demand for Bitcoin today, the crypto market price may continue its uptick trend and surpass the target $120k prior peak barrier level. The coin, in an attempt to regain its previous high, may break through the above-mentioned resistance level and surge to a $126,000 upper high trend line, bringing significant gains across major coins in the cryptocurrency market, providing coin buyers with an excellent entry opportunity.

Key Levels:
Resistance Levels:  $115,000.00 $116,000.00, $117,000.00
Support Levels:    $103,000.00, $102,000.00, $101,000.00

BTC (USD) Long-term Trend: Bullish (Daily Chart)

The BTCUSD pair is experiencing a massive inflow from bulls today and holds above the $114,000 supply mark on the higher time frames.

The market is going super bullish as the price trends towards the upper region, confirming its bullishness.

The crypto price remains firm above the supply levels in its recent high due to an increasing order flow by the bulls at $115,542 in the preceding action.

At the time of writing this article, the Bitcoin market is losing bearish momentum as it rises to a $115,680.48 level above the moving average on the daily chart, today, due to renewed interest among investors in the asset.

Hence, with this post-halving surge, the coin price may continue its upward trend to hit the $120,000 high barrier soon, leading to a broad recovery rally.

Notably, the momentum indicator pointing up indicates that the price of BTCUSD is in an uptrend and may continue its bullish trend to the $126,000 upper resistance and beyond in the long-term forecast.

BTC (USD) Medium-term Trend: Bullish (4H Chart)

The BTCUSD pair turns positive today. The price may continue its bullish rally as it holds significantly above the supply levels in its medium-term outlook.
The coin has been trading with the long traders following the high demand for the asset, which enables it to maintain upward strength in its recent high.

The coin price trading above the moving averages on the 4-hourly chart at the $115,680.48 resistance level at the moment is an indication of a more bullish impact in the market.

Bitcoin is trading in a “Rising Channel”, making higher highs and higher lows, showing signs of bullishness.

This will enable buyers to influence the price and continue the journey to reach the $122,907.69 supply level, which will enable buyers to reclaim trend control.

Notably, the BTCUSD price is pointing up, indicating an uptrend on the price indicator. As a result, the bulls may continue the positive movement, and the $126,000 upper resistance level could be the target in the coming days.

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