Bitcoin Price and Ethereum Prediction – BTC Braces for 10% Pump to $23,000
During the Asian session, the Bitcoin price is trading bearish, near $20,916 after bouncing off the $20,000 support level. Similarly, Ethereum has risen more than 2% to $1,637 and is en route to the 78.6% Fibonacci retracement level.
Early on October 30, major cryptocurrencies were trading in the green, as the global crypto market cap surpassed $1 trillion with a trading volume of $91 billion.
Overall, the market is risk-on ahead of the US Federal Reserve's monetary policy and rate decision later this week.
Dogecoin (DOGE), Klaytn (KLAY), and Waves (WAVES) were the top performers in the last 24 hours. DOGE's price has increased by more than 50% to $0.1344, while KLAY's price has increased by nearly 19% to $0.29. At the same time, WAVES has gained more than 13% to trade at $3.80.
Mina (MINA) has dropped more than 5% this week to $0.70. TerraClassicUSD (USTC) has fallen by more than 6% to around $0.038.
The current Bitcoin price is $20,869, and the 24-hour trading volume is $39 billion. Bitcoin has surged over 8% in the last seven days. CoinMarketCap currently ranks first, with a live market cap of $400 billion, up from $397 billion yesterday.
The BTC/USD pair is now consolidating in a large trading range of $20,000 to $21,000, which is stretched by Fibonacci retracement levels ranging from 38.2% to 61.8%. However, the overall trading basis remains bullish.
The RSI and MACD are still in a bullish zone, indicating that the positive trend is likely to continue. In addition, the 50-day moving average advises buying above $19,750.
As a result, a breach of the 61.8% Fibo level might extend the buying trend to $21,900. Bitcoin might hit $22,500 if the present upward trend continues.
On the downside, Bitcoin's immediate support level is
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