$BTC Current Overview (October 23, 2024, 11:00 UTC):

  • Price Action: BTC is currently trading at $67,195.99, with slight upward momentum.

  • MACD: The MACD on the 4-hour chart continues to display a bearish signal. The histogram remains red, although the intensity of the bearish momentum seems to be stabilizing slightly, indicating the possibility of consolidation or a minor rebound before further decline.

Scenarios Based on MACD with 3–4 Day Prediction:

1. Scenario 1: Immediate Pullback Followed by Consolidation

  • Short-Term (1-2 Days): The bearish crossover on the MACD signals continued downward pressure in the immediate term. BTC could test the $65,000–$66,000 support range over the next couple of days. This zone is crucial as it coincides with the 200-period moving average, which has previously served as a strong support level.

  • Medium-Term (3–4 Days): After hitting this support, BTC is likely to consolidate between $65,000 and $67,000 as traders wait for further signals. If buying interest picks up, BTC might stabilize, leading to sideways movement.

2. Scenario 2: Brief Rebound Before Another Decline

  • Short-Term (1–2 Days): Before heading lower, BTC might retest $68,500, which is a key resistance level. This bounce could attract short-term buyers but would likely be followed by another rejection due to the lack of sustained bullish momentum.

  • Medium-Term (3–4 Days): After this potential rally, a broader pullback to $65,000 remains possible. This price action could align with a potential bullish divergence forming on the MACD if the histogram shows signs of weakening bearishness. If a bullish crossover forms in the next 3–4 days, we might see a stronger upward push beyond $69,000.

3. MACD Confirmation:

  • Short-Term (1–2 Days): If the MACD continues to print red histogram bars, BTC could remain under selling pressure. The price could test lower levels, with a focus on $64,500 as a possible bottom.

  • Medium-Term (3–4 Days): A potential bullish crossover on the MACD could occur by October 25 or 26, especially if the histogram starts to show green bars, signaling a shift to bullish momentum. This crossover would open the door for a medium-term rally toward $70,000.

Key Levels to Watch:

  • Support: $65,000–$66,000 (October 23–24, 2024).

  • Resistance: $68,500–$69,000 (October 23–24, 2024).

  • Next MACD Signal: A bullish crossover in the 4-hour chart could confirm a trend reversal, potentially leading to a stronger move upward.

3–4 Day Outlook Summary:

In the next 3–4 days, BTC is likely to experience a short-term pullback to the $65,000–$66,000 range, with a potential brief rebound toward $68,500 before facing resistance again. Consolidation is expected in the short term, but a bullish MACD crossover could signal a reversal and upward movement beyond $70,000 later in the week. Keep an eye on MACD histogram developments for early signs of recovery.


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