Bitcoin (BTCUSD) Price Forecast: October 11
The Bitcoin market price is likely to swing up, and a breakout is imminent as the crypto struggles to rise against the sell-off. The coin is trending towards the resistance level to subdue the selling pressure. Based on the outlook, if the resistance level rises above the $71,804 value, continuation to the upside is ensured, signaling a buy potential for coin traders.
Key Levels:
Resistance Levels: $60,000, $61,000, $62,000
Support Levels: $53,000, $52,000, $51,000
BTC (USD) Long-term Trend: Bearish (Daily Chart)
The BTCUSD price will swing up and a break out is imminent as the pair trends towards the crucial zone in its higher time frame as can be seen from the chart below. The price is currently below the EMA-50, implying a bearish trend. 
The bearish action on the Bitcoin market at the $60,255 support value in the past 24 hours has sustained the coin price below the trend levels in its recent high.
The BTCUSD price pullback at the $60,935 resistance level below the EMA-50 as the daily chart commences today, suggests the coin price can swing up and a breakout is imminent as the bulls return fully to the market to stage a play.
With sustained buying, Bitcoin may swing up and break out of the current level to retest the $71,804 barrier, footing the potential to grow further.
Further, the momentum indicator shows that the coin price may swing up and a breakout is imminent as it remains in an uptrend at the oversold region. As a result, the BTCUSD may swing up to a $73,000 upper resistance level in the days ahead as we watch the market swing up and break out of the current level to a bullish market zone in the long-term perspective.
BTC (USD) Medium-term Trend: Bearish (4H Chart)
The medium-term outlook for the Bitcoin market may swing up and break out is imminent as the new correction begins. The $60,949 price level served as a solid resistance for the coin price as a pullback below the EMA-50 as the 4-hourly session resumes today.
Because there is currently a bullish correction in place, it is extremely likely for the coin to swing up, and break out is imminent as the bulls continue climbing. Hence, closing the 4-hourly session above the $66,550 high mark will put the trade more on the buy side.
In addition, the BTCUSD pair pointing up on the daily stochastic indicates that the buying pressure may continue, and suggests a possible swing up and break out to a $73,000 supply level in the coming days in the medium-term time frame.
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