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<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-price-surges-towards-64000-following-weekend-rise/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin Price Surges Towards $64,000 Following Weekend Rise</a><br></p>
<p style="text-align: justify">Over the weekend, Bitcoin’s price rose by 4%, approaching the $64,000 mark on Monday. While this movement created a positive atmosphere in the <a href="https://en.coin-turk.com/bitcoin-and-altcoins-price-movements-and-market-trends/" data-wpel-link="internal" rel="noopener noreferrer nofollow"></a><a href="https://en.coin-turk.com/haru-invest-suspends-transactions-a-new-blow-to-cryptocurrency/" data-wpel-link="internal" rel="noopener noreferrer nofollow">cryptocurrency</a> market, BTC experienced a 1.4% pullback in recent hours, suggesting a potential loss of gains.</p>
<h2 id="technical-analysis-and-resistance-levels">Technical Analysis and Resistance Levels</h2>
<p style="text-align: justify">Bitcoin’s four-hour chart indicates a retest of the daily resistance area, which ranges from $63,987 to $65,044. A rejection at this level may result in a 1.4% correction, bringing BTC closer to support levels of $61,837 and $60,346.</p>
<h2 id="relative-strength-index-rsi-status">Relative Strength Index (RSI) Status</h2>
<p style="text-align: justify">The RSI indicator hovers around the 60 level and has not yet reached the overbought zone. This situation indicates that traders might expect a short-term correction, allowing BTC to potentially revert to the stated resistance area. A correction that might occur on October 9 or 10 could lead Bitcoin’s price to drop to the $60,000 support level.</p>
<h2 id="analysts-anticipate-an-uptrend">Analysts Anticipate an Uptrend</h2>
<p style="text-align: justify">Analyst Jay recently shared on X platform that Bitcoin could reach $77,700 by the end of October, reflecting a 30% increase. Based on historical data, Jay emphasized that BTC typically follows a strong upward trend after forming a bottom at the beginning of October.</p>
<blockquote>
 <p>Jay stated, “Bitcoin has significantly gained value after hitting lows in October every year.”</p>
</blockquote>
<p style="text-align: justify">Jay’s opinion aligns with October’s average return of 21%. However, it is also highlighted that investors should assess these forecasts cautiously.</p>
<p style="text-align: justify">Moreover, the uncertain geopolitical conditions, such as the conflict between Iran and Israel, could significantly impact Bitcoin’s price and disrupt historical patterns.</p>
<p style="text-align: justify">If Bitcoin’s price falls below $60,000, it is projected to decline further to support levels of $57,970 and $57,201, representing a potential drop of 9.6% from current levels.</p>
<p style="text-align: justify">Investors can carefully monitor these fluctuations in the Bitcoin market and reassess their strategies for both short-term corrections and possible increases.</p>
<p>The post <a href="https://en.coin-turk.com/bitcoin-price-surges-towards-64000-following-weekend-rise/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin Price Surges Towards $64,000 Following Weekend Rise</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.</p>

Bitcoin Price Surges Towards $64,000 Following Weekend Rise

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