Bitcoin Price Prediction: Today’s Bitcoin Price, 27th Oct 2022

The price of bitcoin is up over 4% to $20,260 during the Asian session, continuing its positive trend.

Major cryptocurrencies were up early on October 26 as the market cap of all cryptocurrencies increased by about 5% to $976 billion. On the other hand, the total volume of the crypto market rose by nearly 69% in the previous day to $89.24 billion.

The $3.66 billion total volume of DeFi at this time is 4% of the 24-hour volume of the whole crypto market. Currently, the total 24-hour volume of the cryptocurrency market is $80.85 billion, or 90% of the total volume of all stablecoins.

Today’s Bitcoin Price

The price of one bitcoin is at $20,245 and there are $151 billion worth of transactions every day. In the past 24 hours, Bitcoin has gained by more than 4%. With a live market capitalization of $388 billion, CoinMarketCap is now ranked first.

The BTC/USD pair is currently trading substantially higher on Wednesday after escaping the symmetrical triangle formation at $19,250. As anticipated in the Bitcoin price forecast for October 26, the BTC/USD pair has traded positively, breaking through the $19,600 and $19,900 immediate resistance levels.

A triple-top pattern-extended immediate resistance level of $20,430 is where it is currently coming into contact.

The 50-day moving average encourages purchasing over the $19,300 mark, and the RSI and MACD are still in a buying zone, boosting the likelihood of a bullish run. As a result, if the triple-top pattern is broken, the upward purchasing trend may reach $21,000 or $21,900. But if the upward trend persists, BTC might surpass the $23,000 mark.

On the downside, Bitcoin continues to have some immediate support around the psychological threshold of $20,000 and $19,600. Investors should search for buy positions today that are more expensive than $19,900.

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