On the evening of October 12, the Bitcoin
Looking at the hourly chart of Bitcoin, the price channel has been broken, but whether it stabilizes will depend on the hourly close. For Bitcoin to continue rising, it must first break through the upper edge of the price channel, which is at 92700. A breakthrough is necessary for the upward trend to continue; if it cannot break through, all efforts are in vain.
Conversely, if Bitcoin experiences a correction, the key support is around 91500. If this level holds, the bullish outlook for Bitcoin remains unchanged. However, if it breaks below this level, it will need to retest the lower edge of the price channel, which is around 89500.
In fact, the strategy for the evening is similar to that of the afternoon. There’s not much more to say.
In the evening, Bitcoin is expected to fluctuate around 91500-92000, with a target of 93600-94200.
