Bitcoin (BTCUSD) Price Forecast: October 14
The Bitcoin (BTCUSD) bullish pattern will emerge soon following the exhausting power of the sell traders. The coin price may likely reverse in a bullish direction, and it may soon be prepared for another probable upward surge. The price may perhaps retrace to retest the previous high of $31862.21 and even further if buyers can demonstrate their strength and trade hands with sellers at the current support level of $26608.47.
Key Levels:
Resistance Levels: $26000.00, $27000.00, $28000.00
Support Levels: $24000.00, $23000.00, $22000.00
BTC (USD) Long-term Trend: Bearish (Daily Chart)
The Bitcoin market is having a bearish posture in its long-term outlook as can be seen from the chart below; this is due to the inflow from the sell traders. Further, the coin bullish pattern will emerge soon as the market selling pressure has reached an exhaustion stage. 
The crypto price has been below the supply trend levels since its most recent low due to the persistent bearish pressure over the last few days.
Actions from the sell traders dropped the BTCUSD price to a $26608.47 low value below the EMA-50 as the daily chart opens today. Thus, if the bulls can put extra effort into the price action and break above the $31862.21 supply mark, further selling pressure will be put into hibernation.
Additionally, the BTCUSD bullish pattern will emerge soon and the price is likely going to reverse and face the upsides as the market is now trading around the 9% range of the daily stochastic; it means that the selling pressure will end soon.
This will compel the buy traders to resume an uptrend and may likely break up the $31862.21 supply level soon in its higher time frame.
BTC (USD) Medium-term Trend: Bearish (4H Chart)
The Bitcoin price is in a bearish trend in its medium-term view. The price bars are seen below the EMA-50 which suggests a bearish trend. But it seems that the crypto’s bullish pattern will emerge soon as the bulls are seen making a new correction at the moment.
The sustained bearish pressure at the $26521.32 support value during the previous session has made the crypto’s price stay below the supply trend line in its recent low.
Hence, after completing the lows at the $26608.47 value, the coin price has moved up to a $26708.84 high level below the EMA as a pullback from the bulls as the 4-hour chart resumes today. This is a result of more concerns from the buy investors. A break above $28440.85 would intensify the buying pressure on the largest crypto market.
Meanwhile, the market is pointing up in the oversold region indicating a buy potential. This will now make the bullish pattern emerge and push the market price of BTCUSD up to a significant level of $32000 upper high level in the days ahead in its medium-term time frame.
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