Bitcoin (BTC) Price Slightly Dipped in the Last 24 Hours but Continues to Hang on the $69,000 Level

Reports showed that Bitcoin price slightly dipped in the last 24 hours but continues to hang on the $69,000 level after breaching over $73,000 several days ago.

Bitcoin price showed impressive gains last October 2024, trading close to the $71,000 level and attempting to reach investors’ expectations of the coin hitting $73,700. However, the cryptocurrency experienced a slight dip, falling to $70,800.

Despite the minor decrease in price, a lot of people are wondering why Bitcoin’s price is up but Google searches are down.

Bitcoin price still performed well last October 2024 despite experiencing a slight decrease in price, falling below $71,000 to $70,800 and failing to meet investors’ expectations of the coin hitting the $73,700 mark.

Bitcoin performed well last October, showing a slight decrease in price but still managing to stay above the $70,000 level. Investors had high hopes for Bitcoin to reach $73,700, but unfortunately, it fell short of expectations.

After experiencing a massive price rally and reaching a new all-time high above $73,000, Bitcoin encountered some selling pressure and began to correct lower. The world’s leading digital asset fell below key support levels, including the $72,000 and $71,000 levels.

BTC also experienced a clear break below a rising support trendline, connecting the lows from September 27 and October 11 on the 4-hour chart (Fib levels). The good news is that buyers quickly stepped in to defend the next critical support level near $70,800.

Bitcoin price now seems to be preparing for the next move, either up or down. A close above $71,000 could spark a fresh wave of buying towards the $72,200 resistance level.

Clear gains above the $72,200 resistance could pave the way for a bullish move towards the $73,700 level, followed by the main resistance at $75,000.

On the downside, initial support is near the $70,800 level. A clear break below this support could trigger further losses towards the $70,000 psychological level.

Essential levels to watch for the next BTC move:

Support levels: $70,800, $70,000, $69,200

Resistance levels: $71,000, $72,200, $73,700

Bitcoin price began a strong recovery wave from the $68,600 support zone. BTC price cleared the $70,000 resistance level and started a bullish move.

Bitcoin price now trades above the $71,000 level, attempting to gain bullish momentum to clear the next critical resistance near $71,300.

Clear gains above the $71,300 resistance could trigger a bullish move towards the $72,200 resistance level.

On the downside, initial support is near the $70,800 level. A clear break below this support could trigger further losses towards the $70,000 psychological level.

Bitcoin price is attempting to gain bullish momentum and clear the next critical resistance near $71,300. Clear gains above this level could trigger a bullish move towards the $72,200 resistance.

On the other hand, a clear break below the $70,800 support could trigger further losses towards the $70,000 psychological level.