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Lots of Red for Bitcoin This Week

Written By: ChartChamp

October 23, 2024

Bitcoin has experienced a lot of red and downside this week. As soon as the new weekly candle opened Bitcoin has started a downtrend. This is not what I want to see after so much bullish momentum last week. However, we are halfway into the week and hopefully there will be a reversal soon. Bitcoin has reached as low as $66k today, and has some support around $66k and $66.5k that could help form a bullish rebound at these price levels. There have been numerous failed rebounds so far this week so I would like to see Bitcoin hold above $66k and form a convincing rebound.

Bitcoin has dropped as low as $65k, but is forming a strong rebound. I think we can start to see some upside.

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