Bitcoin Forecast, 21-10-2024

Greetings to you on the crypto site. My name is Viktor and today I will share my opinion about #bitcoin, #btc-usdt, using the TradingView service, here Bitcoin Forecast for the Week of 21-10-2024

Bitcoin Forecast

Crypto Investing 2024: Why Now is the Time to Act
Greetings, dear crypto enthusiasts! Contact cryptoviktor.com and today I will share my thoughts on the current state of the cryptocurrency market. First of all, I want to say that on October 21, 2024, Bitcoin continues to show considerable interest from investors, and the situation looks quite favorable for decisive actions.

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State of the market: Bitcoin and prospects

Let’s start with Bitcoin. As before, on my site cryptoviktor.com, I often talk about important technical figures, such as the “cup with a handle”. This classic technical analysis figure is an important signal for investors. Bitcoin is currently trading within this figure, and I’m sure we’ll see further growth.

The way I see it: Bitcoin has every chance to reach new highs, including $71,000, in the coming weeks. However, not everything is as simple as it might seem at first glance. The market continues to be very volatile and this creates opportunities for both longs and shorts.

The Fear and Greed Index: What Does It Mean for Us?

Today, the Fear and Greed Index has reached 72, signaling that most investors are ready to buy cryptocurrency. This indicates that the technical indicators are now leaning towards buying mode. But it is important to remember that the market remains risky, especially for newcomers.

Looking at the big picture, some altcoins like Solana and Dodge are currently in the yellow zone, which means investing in them at this stage can be risky. But overall, the market continues to look quite bullish and I expect to see continued growth in the near term.

Forecasts and conclusions

So, in my opinion, Bitcoin will continue its growth in the coming weeks. It is especially worth paying attention to the CCI indicator, which shows a clear upward direction. If the price continues to follow this trend, we can expect to reach new highs. I believe that the first phases of this movement have already begun.

• Дивитись відео: Біткоїн — Прогноз на Тиждень, 21 жовтня 2024 року.

Do not forget to follow the situation on my site cryptoviktor.com and on our social networks. There you will find more detailed forecasts and analytics for each individual cryptocurrency. As always, I wish you success in your investments and may your decisions bring you significant profits!