BTC/USD in a Downward Correction as Bitcoin Battles $58.4K High


Bitcoin Fluctuates Between $57k and $58.K as Bitcoin Battles $58.4K High – October 14, 2021

Today, BTC/USD retraces to the support above $57,100 as Bitcoin battles $58.4K high . In previous price action, buyers were unable to sustain the bullish momentum above $57,000 high. On October 13, BTC’s price rebounded to break the $57,000 resistance and the bullish momentum extended to the high of $58,400. However, the crypto has retraced to the breakout price level.

Resistance Levels: $50,000, $51,000, $52,000
Support Levels: $40,000, $39,000, $38,000

BTC/USD – Daily Chart

BTC/USD has retraced from $58,400 to $57,100. The $58,400 is the new peak price of Bitcoin while the $57,100 is the breakout price level. After finding support above $57,100, BTC’s price has resumed a new uptrend. Buyers are expected to revisit the previous highs to break above the resistance. Bitcoin is range-bound between $57,000 and $58,400 . The crypto will rally above the $60,000 high; if the BTC price rebounds above the $57,600 support and the bullish momentum break the $58,400 resistance. A breakout above $58,400 resistance will accelerate the upward move into the next psychological price level. However, if the bulls fail to break above the $58,400 high, Bitcoin will fall and resume a downward correction between $57,000 and $58,400 price levels.

Venezuelan International Airport to Accept Bitcoin Payments

Freddy Borges is the Maiquetia airport director. The director indicated that a major international airport in Venezuela is about to resume acceptance of cryptocurrencies like Bitcoin for payment for tickets and other services. Simón Bolívar International Airport, also known as Maiquetia is preparing to accept cryptocurrency payments for services. The airport will comply with local industry standards. It is located in downtown Caracas, the capital of Venezuela. According to the director, the introduction of crypto payments at the Maiquetia airport will lead to the company’s commitment to advance toward international standards and drive digital currency adoption. Borges indicated that the crypto payment option will benefit foreign tourists, including those from Russia.

 Bitcoin (BTC) Price Prediction: BTC/USD in a Downward Correction as Bitcoin Battles $58.4K High
BTC/USD – 4 Hour Chart

Meanwhile, BTC/USD has resumed its upward move as Bitcoin battles $58.4K high.Presently, crypto is facing rejection at the $58,400 high. Yesterday, the bulls broke the resistance at $57,000 to attain a high of $58,400. The uptrend will resume if buyers breach the recent high.

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