Bitcoin Price and Ethereum Prediction – Can BTC Fall Below $19,300?
On October 20, the Bitcoin price is trading slightly higher after recovering from the $18,990 double-bottom support level. In contrast, Ethereum fell nearly 1% to $1,293 during the early Asian session.
Major cryptocurrencies were trading in the negative zone today, with the global crypto market capitalization falling over 1% to $915 billion on the previous day. DeFi had a total volume of $3.3 billion, while the total volume of stablecoins was over $41 billion.
The top performers in the Asian session were TerraClassicUSD (USTC), Chain (XCN), and Aptos (APT). The TerraClassicUSD (USTC) gain more than 11% to $0.038, while the XCN price has risen by over 8% to $0.067.
The Casper (CSPR) price has fallen by more than 6% in the last 24 hours to $0.041. The price of Quant has dropped more than 6% to around $10.04.
The current Bitcoin price is $19,150, and the 24-hour trading volume is $23 billion. Bitcoin has fallen by less than 1% in the last 24 hours. CoinMarketCap currently ranks first, with a live market cap of $367 billion.
As we discussed in our previous Bitcoin price prediction, the BTC/USD pair has broken through the symmetrical triangle pattern that had been extending strong support near $19,300. Furthermore, Bitcoin closed a couple of red candles outside of the symmetrical triangle, confirming the breakout pattern. However, Bitcoin has risen above the $18,990 support level.
On the upside, Bitcoin may struggle to break through the $19,300 support level to become a resistance level. If BTC fails to break through this level, the price will almost certainly fall. Thus, keep an eye on $19,300; above this level, buying can be seen until $19,500 or $19,940.
The RSI and MACD remain in a selling zone, supporting investors' bearish
Read more on cryptonews.com
