October Ended Up Empty, Bitcoin Still Can't Find Its Direction! Analyst: "These Levels Are Very Critical, They Must Be Monitored Closely!"

Leading cryptocurrency Bitcoin (BTC) experienced sharp declines in October, known as the historically bullish ￰0￱ this point, although Bitcoin has risen today, it has continued to decline despite its traditional upward trend in October and is still looking for ￰1￱ James Van Straten said that Bitcoin continued to struggle in October, which is known as one of the strongest months in ￰2￱ analyst noted that Bitcoin is moving sideways between its 200-day and 365-day simple moving averages (SMA), adding that the $103,000 support level is ￰3￱ that the 200-day SMA has mostly served as support for Bitcoin since the 2023 cycle began, the analyst stated that when this level cannot be held, the 365-day SMA acts as secondary ￰4￱ that the 365-day SMA is located at $100,367, the analyst said that Bitcoin is stuck between the 200 and 365-day SMAs.

“While investors generally expect a price increase in October, market sentiment has so far failed to meet those ￰5￱ consolidated between the 200-day SMA of $107,846 and the 365-day SMA of $100,367. This is the fourth time this cycle that Bitcoin price has been stuck between these two averages, and this sideways trend could last for ￰6￱ analyst also noted that the 200-day SMA is often used as a dividing line between bull and bear markets, saying, “Breaking above the 200-day SMA is the key to a short-term recovery and trend reversal. However, if it fails to break above this line, a prolonged sideways movement is likely to continue.” The analyst recently noted that key levels to watch for Bitcoin include $103,509 (2025 investor cost basis), $100,000 (psychological basis), and $112,100 (short-term cost basis). *This is not investment ￰7￱ Reading: October Ended Up Empty, Bitcoin Still Can't Find Its Direction!

Analyst: "These Levels Are Very Critical, They Must Be Monitored Closely!"