Where is BTC headed this week after testing $64,000?

Will crypto markets experience another week of low volatility and inactivity, or is Bitcoin about to explode and usher in “Uptober”?

On October 14, analyst CrypNuevo told his 117,000 X followers that the coming week should be a good one for price action.

“We’ve seen aggressive moves in both directions, and they’re recovering,” he said before predicting that BTC will rise this week.

Up or down this week?

The analyst highlighted an upside liquidation cluster between $63,500 and $65,000, noting that there could be a possible shakeout first, especially early in the week, “but the price should head towards to this area.”

$BTC Sunday Update:

Quiet week ahead; should be good in terms of price action.

We have seen aggressive moves in both directions and they are recovering. But I’m looking for a higher move, ideally this scenario.

Here is my analysis and plan for this week:
pic.twitter.com/4zwCDKBO9L

— CrypNuevo (@CrypNuevo) October 13, 2024

On October 14, analyst Michaël van de Poppe echoed the sentiment, stating that there will likely be a couple of days of consolidation before predicting a move higher.

“A test of $64,000 will likely bring the big breakout we’re looking for. The build-up is massive.”

However, analyst CrediBULL Crypto painted a bearish picture and predicted a return to the mid-high $50,000 level before another bounce.

Over the weekend, analyst DonAlt weighed in on both scenarios, stating that if BTC breaks above $65,000, “I’d bet we’ve finally escaped the bottomless end. However, if it breaks back below $58,000, “expect more gloom “.

“I’m hoping we get on after all this ribbing is over.”

The Bitcoin Fear and Greed Index, which measures market sentiment, has returned to neutral around 48 after falling on fear late last week.

BTC hits $64,000

Things already seem to be heating up in the crypto markets, with Bitcoin returning to a one-week high of $63,975 during Monday morning trade in Asia, according to TradingView.

However, the asset is still range-bound and needs to clear $64,000 for any of the bullish scenarios suggested by previous analysts to unfold.

The next major resistance point is $66,000, where the asset stopped at the end of September.

“This week is set for action,” said Bitcoin OG Kyle Chassé, who added, “In 6 or 8 months, it won’t matter if you bought at $64,000 or $58,000.”

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