Buyers are trying to seize the initiative on Saturday, according to CoinStats. The rate of Bitcoin (BTC) has risen by 1.11% since yesterday.
On the hourly chart, the price of BTC is far from the key support and resistance levels. Trading volume remains low, indicating that traders are unlikely to witness increased volatility by tomorrow. On a larger time frame, there are no reversal signals so far.
In this regard, attention should be paid to yesterday’s bar low of $103,530. If the bulls lose this level, the decline may continue toward the $100,000 area.
From a midterm perspective, sellers currently appear more powerful than buyers. Should a breakout of the $100,426 support occur, the accumulated energy might be enough to push the price down further to the $95,000 zone.
At the time of writing, Bitcoin is trading at $106,909.
https://u.today/bitcoin-btc-price-analysis-for-october-18