The post Bitcoin (BTC) Price Analysis for October 1 appeared on BitcoinEthereumNews.com. All of the top 10 coins are rising on the first day of October, according to CoinStats. Top coins by CoinStats  BTC/USD The rate of Bitcoin (BTC) has gone up by 2.59% over the past day. Image by TradingView On the hourly chart, the price of BTC is breaking the local resistance of $116,795. If it happens and the daily bar closes above that mark, there is a high chance of seeing a test of the $117,500-$118,000 zone soon. Image by TradingView On the longer time frame, one should focus on the candle’s closure in terms of the nearest level of $117,898.  You Might Also Like If it happens around it or above, the accumulated energy might be enough for an ongoing upward move to the $120,000 area. Image by TradingView From the midterm point of view, the picture is neutral as the price of BTC is in the middle of the channel between the support of $107,281 and the resistance of $123,218. As neither bulls nor bears have seized the initiative yet, accumulation phase in the range of $114,000-$120,000 is the most likely scenario. Bitcoin is trading at $117,171 at press time. Source: https://u.today/bitcoin-btc-price-analysis-for-october-1The post Bitcoin (BTC) Price Analysis for October 1 appeared on BitcoinEthereumNews.com. All of the top 10 coins are rising on the first day of October, according to CoinStats. Top coins by CoinStats  BTC/USD The rate of Bitcoin (BTC) has gone up by 2.59% over the past day. Image by TradingView On the hourly chart, the price of BTC is breaking the local resistance of $116,795. If it happens and the daily bar closes above that mark, there is a high chance of seeing a test of the $117,500-$118,000 zone soon. Image by TradingView On the longer time frame, one should focus on the candle’s closure in terms of the nearest level of $117,898.  You Might Also Like If it happens around it or above, the accumulated energy might be enough for an ongoing upward move to the $120,000 area. Image by TradingView From the midterm point of view, the picture is neutral as the price of BTC is in the middle of the channel between the support of $107,281 and the resistance of $123,218. As neither bulls nor bears have seized the initiative yet, accumulation phase in the range of $114,000-$120,000 is the most likely scenario. Bitcoin is trading at $117,171 at press time. Source: https://u.today/bitcoin-btc-price-analysis-for-october-1