Bitcoin Price Prediction: BTC/USD May Encounter a Breakout or Breakdown as Price Consolidates Between $11,200 and $11,440

>Bitcoin (BTC) Price Prediction – October 17, 2020BTC/USD is currently in consolidation in the current tight range between $11,200 and $11,440. In the lower time frame, the price action is characterized by small body candlesticks called Doji and Spinning tops. These candlesticks describe the indecision between the bulls and the bears about the direction of the market.Resistance Levels: $10,000, $11,000, $12,000Support Levels: $7,000, $6,000, $5,000BTC/USD – Daily ChartOn October 16, Bitcoin fell to a narrow price range between levels of $11,200 and $11,440. This consolidation becomes necessary because of the previous price action. On October 12 uptrend, the Bitcoin price reached a high of $11,740. Soon after the peak price, BTC resumed a downward move to the present range-bound zon...