Cryptocurrency

Bitcoin

Resistance

<![CDATA[<figure class="image"><img src="https://cimg.co/news/126109/333000/6.jpg" srcset="https://cimg.co/news/126109/333000/responsive-images/6___media_library_original_1280_720.jpg 1280w, https://cimg.co/news/126109/333000/responsive-images/6___media_library_original_1200_675.jpg 1200w, https://cimg.co/news/126109/333000/responsive-images/6___media_library_original_900_506.jpg 900w, https://cimg.co/news/126109/333000/responsive-images/6___media_library_original_720_405.jpg 720w, https://cimg.co/news/126109/333000/responsive-images/6___media_library_original_600_338.jpg 600w, https://cimg.co/news/126109/333000/responsive-images/6___media_library_original_300_169.jpg 300w" width="1280" class="content-img" alt=""></figure>In light of recent data showcasing a remarkable surge in US nonfarm payrolls, the cryptocurrency realm, particularly <a href="https://www.tradingview.com/symbols/BTCUSD/">Bitcoin</a> (BTC), seems to be set on a trajectory of its own.&nbsp;The <a href="https://tradingeconomics.com/united-states/non-farm-payrolls#:~:text=Nonfarm%20payrolls%20is%20an%20employment,market%20and%20the%20stock%20market.">employment figures</a> for September 2023 have come in at a stellar 336K, easily surpassing the revised August count of 227K and leaving market predictions of 170K in the dust.&nbsp;This substantial increase, the most significant in eight months, exceeds the average 70K-100K monthly requirement to align with the growth of the working-age populace.&nbsp;Such robust data suggests a labour market that's demonstrating resilience, even amidst the Federal Reserve's ongoing tightening efforts.<figure class="media"><oembed url="https://twitter.com/Micro2Macr0/status/1710272728895279571"></oembed></figure>Sectors like leisure and hospitality, government, and health care made significant gains.&nbsp;Conversely, mining, construction, and manufacturing industries displayed a static employment trend.&nbsp;As Bitcoin bulls fixate on the $30,000 resistance level, one can't help but wonder: is there a synchronicity between the strengthening labour market and a potential BTC comeback?<h2 id="strong-bitcoin-price-strong">Bitcoin Price&nbsp;</h2>On October 7, Bitcoin's (<a href="https://cryptonews.com/news/bitcoin-price-prediction-as-btc-fails-break-27000-threshold-stuck-rut.htm">BTC/USD</a>) technical outlook revealed some interesting movements. The current price of Bitcoin stands at $28,000, having experienced a near 2% increase in the last 24 hours.&nbsp;With a 24-hour trading volume of approximately $12.63 billion, Bitcoin maintains its top position at #1 on <a href="https://coinmarketcap.com/currencies/bitcoin/">CoinMarketCap</a>.&nbsp;The cryptocurrency's live market cap is around $546.22 billion, with a circulating supply nearing 19.51 million BTC out of the maximum supply of 21 million BTC.<h2 id="strong-bitcoin-price-prediction-strong">Bitcoin Price Prediction</h2>Looking closer at its price action on a 4-hour time frame, the pivot point is noted at $27,878. <a href="https://cryptonews.com/news/bitcoin-price-prediction-btc-up-2-amid-bitmex-ceos-750k-prediction-el-salvador-mining-blackrock-etf.htm">Bitcoin price</a> faces immediate resistance at $28,565 and further resistance at $29,261.&nbsp;On the downside, the asset finds its immediate support at $27,275, with subsequent supports at $26,790 and $26,435.&nbsp;The Relative Strength Index (RSI) indicates a slightly bullish sentiment with a value of 63. This is above the midpoint of 50 but hasn't yet reached the overbought territory of 70.&nbsp;In addition, Bitcoin's current price level surpasses its 50-day Exponential Moving Average (EMA) of $27,450, further confirming the prevailing short-term bullish trend.The 4-hour chart showcases an upward channel pattern, suggesting a strong buying interest. The 50 EMA agrees, driving additional buying sentiments. This combination hints at a possible continuation of bullish momentum for the cryptocurrency.&nbsp;<figure class="image"><img src="https://cimg.co/news/126109/333001/btc.jpg" srcset="https://cimg.co/news/126109/333001/responsive-images/btc___media_library_original_1733_952.jpg 1733w, https://cimg.co/news/126109/333001/responsive-images/btc___media_library_original_1200_659.jpg 1200w, https://cimg.co/news/126109/333001/responsive-images/btc___media_library_original_900_494.jpg 900w, https://cimg.co/news/126109/333001/responsive-images/btc___media_library_original_720_396.jpg 720w, https://cimg.co/news/126109/333001/responsive-images/btc___media_library_original_600_330.jpg 600w, https://cimg.co/news/126109/333001/responsive-images/btc___media_library_original_300_165.jpg 300w" width="1733" class="content-img" alt=""><figcaption>Bitcoin Price Chart - Source: Tradingview</figcaption></figure>As of now, no significant fundamental news pieces are impacting Bitcoin's price. In conclusion, the trend for Bitcoin leans bullish, particularly if it sustains above the critical support of $27,275.&nbsp;However, a dip below this level might usher in bearish sentiments. It's recommended that traders and investors to monitor this key support level closely and strategize accordingly.<h2 id="strong-top-15-cryptocurrencies-to-watch-in-2023-strong">Top 15 Cryptocurrencies to Watch in 2023</h2>In 2023, you can stay updated on the world of digital assets with our carefully selected collection of the top 15 alternative cryptocurrencies and ICO projects.&nbsp;Our list is created by experts from Industry Talk and Cryptonews, who provide professional advice and valuable insights for your cryptocurrency investment decisions.&nbsp;Don't miss out on this chance to explore the possibilities of these digital assets and stay informed.<div class="raw-html-embed"><div style="background: #920047;margin-bottom: 20px;width: 50%;text-align: center;padding: 8px;border-radius: 5px;background-image: linear-gradient(107deg,#930046,#59008a);color: white;padding-left: 1em;padding-right: 1em; font-size: 16px;"><a style="text-decoration:none;color:white" href="https://cryptonews.com/news/new-cryptocurrency.htm" target="_blank" rel="nofollow noindex">See the 15 Cryptocurrencies</a></div></div><h2 id="strong-find-the-best-price-to-buy-sell-cryptocurrency-strong">Find The Best Price to Buy/Sell Cryptocurrency</h2><figure class="image"><img src="https://cimg.co/news/126109/333002/tracker.jpg" srcset="https://cimg.co/news/126109/333002/responsive-images/tracker___media_library_original_1020_391.jpg 1020w, https://cimg.co/news/126109/333002/responsive-images/tracker___media_library_original_900_345.jpg 900w, https://cimg.co/news/126109/333002/responsive-images/tracker___media_library_original_720_276.jpg 720w, https://cimg.co/news/126109/333002/responsive-images/tracker___media_library_original_600_230.jpg 600w, https://cimg.co/news/126109/333002/responsive-images/tracker___media_library_original_300_115.jpg 300w" width="1020" class="content-img" alt=""><figcaption>Cryptocurrency Price Tracker - Source: Cryptonews.com</figcaption></figure>Disclaimer: Cryptocurrency projects endorsed in this article are not the financial advice of the publishing author or publication - cryptocurrencies are highly volatile investments with considerable risk, always do your own research.
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Bitcoin Price Prediction as BTC Bulls Eye $30,000 Resistance as Non-Farm Payroll Data is Released – A Comeback in Play?

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