FX.co ★ karl.vonrueden | Bitcoin/BTCUSD forecasts

BITCOIN TODAY SATURDAY,17/10/2026 Hello, good afternoon! Glad to help you analyze Bitcoin's movement. On this occasion I will analyze Bitcoin's movement using the H4 time frame. Let's dissect the market conditions in depth and compose an objective trading plan based on the indicators I use. Based on the attached Bitcoin H4 chart, the current price is around the level 81534.11. Here is the breakdown of the technical analysis: Moving Average 100 and 200 Analysis The Moving Average (MA) lines on the chart show medium to long-term trend dynamics. The blue line representing the faster period is around 82688.60, while the red line representing the slower period MA is around 81534.11. Currently, the price is moving around the red MA line and slightly below the blue MA, which indicates the market is in a consolidation phase or a healthy correction after the previous uptrend. Tight price movement around these MA lines indicates market indecision while market participants await confirmation of the next direction. RSI 12 Analysis The Relative Strength Index (RSI) with period 12 is at level 41.93. This figure is slightly below the midpoint 50.00, which indicates selling momentum is slightly dominating in this short term. Nevertheless, RSI 41.93 has not entered the oversold area (below 30), meaning there is still room for the market to move lower before reaching oversold, or it may be preparing to reverse if it manages to break back above level 50. Support and Resistance Analysis Based on the horizontal lines on the chart, we can map several important levels for trading reference: The nearest resistance level is around 85098.95 and a stronger upper limit at 87396.18. The nearest support level is in the area of 80014.55. If this support breaks, the price could fall further to test the area 77867.90 down to the major support at 75118.58. Candlestick Pattern Analysis The latest candlestick movement shows a consolidation pattern with relatively small candle bodies and alternating upper and lower wicks around the price area 81500. This condition reflects hesitation between buyers and sellers. There is not yet a strong reversal pattern such as a large bullish engulfing or a large pin bar formed, so we need to monitor the next confirming candle near the support or resistance area.

Trading Plan Buy (Long) Scenario: Entry conditions: If the price bounces from the support area 80014.55 or manages to break back above the blue MA line with supporting increase in volume and RSI rising above 50. Profit target: Resistance area 85098.95. Risk limit (Stop Loss): Placed below support 80014.55 (for example around 79500) to anticipate a further breakdown. Sell (Short) Scenario: Entry conditions: If the price fails to break above the blue MA line and a breakdown penetrates support 80014.55 with a solid bearish candlestick confirmation. Profit target: Test the lower support area around 77867.90 to 75118.58. Risk limit (Stop Loss): Placed above the red MA line or above 82700. That concludes the analysis and trading plan for Bitcoin going forward. Always apply good risk management by adjusting position sizing and be disciplined in using stop losses given Bitcoin's high volatility. I hope this trading plan helps your investment decisions!