Today, October 29, the cryptocurrency market is showing impressive growth, and the price of Bitcoin (BTC) has reached $70,960, rising by 3.69% over the past 24 hours. The current market activity is linked to upcoming events, including the U.S. elections, which may significantly impact the cryptocurrency market.
The analysis of the charts shows that BTC is steadily moving above the short-term moving averages (MA7 and MA25), which is a bullish signal. Additionally, the RSI index is at 67, indicating an approach to the overbought zone, but leaving room for further growth. Trading volume remains high, confirming strong investor interest.
Thus, by the end of the day, the price of BTC may fluctuate in the range of $70,500–$71,500, with both growth and correction possible if the RSI reaches critical overbought levels. The decision to take profits or hold positions will depend on upcoming news events and market sentiment.
Remember that success in the cryptocurrency market requires patience, discipline, and a willingness to take risks. Always trade cautiously and understand that the market does not guarantee constant growth.