The post Bitcoin (BTC) Price Analysis for October 28 appeared on BitcoinEthereumNews.com. Most of the cryptocurrencies are in the red zone, however, there are some exceptions to the rule, according to CoinStats. Top coins by CoinStats BTC/USD The price of Bitcoin (BTC) has dropped by 0.24% since yesterday. Image by TradingView On the hourly chart, the rate of BTC has set a local resistance of $116,077. As most of the daily ATR has passed, there are low chances of seeing sharp moves by tomorrow. Image by TradingView On the longer time frame, the price of the main crypto has once again bounced off the resistance of $116,035.  You Might Also Like If the bar closes far from that mark, bears may again seize the initiative, which may lead to a drop to the $114,000-$115,000 range. Image by TradingView From the midterm point of view, one should focus on the bar’s closure in terms of the $116,035 level. If its breakout happens, the accumulated energy might be enough for a further upward move to the $120,000 mark. Bitcoin is trading at $115,286 at press time. Source: https://u.today/bitcoin-btc-price-analysis-for-october-28The post Bitcoin (BTC) Price Analysis for October 28 appeared on BitcoinEthereumNews.com. Most of the cryptocurrencies are in the red zone, however, there are some exceptions to the rule, according to CoinStats. Top coins by CoinStats BTC/USD The price of Bitcoin (BTC) has dropped by 0.24% since yesterday. Image by TradingView On the hourly chart, the rate of BTC has set a local resistance of $116,077. As most of the daily ATR has passed, there are low chances of seeing sharp moves by tomorrow. Image by TradingView On the longer time frame, the price of the main crypto has once again bounced off the resistance of $116,035.  You Might Also Like If the bar closes far from that mark, bears may again seize the initiative, which may lead to a drop to the $114,000-$115,000 range. Image by TradingView From the midterm point of view, one should focus on the bar’s closure in terms of the $116,035 level. If its breakout happens, the accumulated energy might be enough for a further upward move to the $120,000 mark. Bitcoin is trading at $115,286 at press time. Source: https://u.today/bitcoin-btc-price-analysis-for-october-28