Leading cryptocurrency Bitcoin (BTC) experienced sharp declines in October, known as the historically bullish 0 this point, Bitcoin has continued its decline despite its traditional upward trend in October and is still searching for 1 James Van Straten said Bitcoin continues to struggle in October, 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 key levels to watch for Bitcoin include $103,509 (2025 investor cost basis), $100,000 (psychological basis), and $112,100 (short-term cost basis). The analyst finally noted that the 200-day SMA is often used as a dividing line between bull and bear markets, saying, “Bitcoin breaking above the 200-day line is the key to a short-term recovery and a signal of a trend change.
However, if it fails to break above this level, a prolonged sideways movement is likely.” *This is not investment 7 Reading: October Ends Empty, Bitcoin (BTC) Still Can't Find Its Direction! Analyst: "These Levels Are Very Critical, Must Be Monitored Closely!"
Story Tags

Latest news and analysis from BitcoinSistemi