Bitcoin (BTCUSD) Price Forecast: October 7
The Bitcoin market is growing again after a few days of drop. The crypto market has noted a significant increase in the last few hours, suggesting a recovery attempt. However, the coin could face more upsides if the bulls increase their activities in the market to surpass the $71,804 previous high level. The next potential supply level could be around $73,000, increasing the crypto market.
Key Levels:
Resistance Levels: $60,000.00 $61,000.00, $62,000.00
Support Levels: $48,000.00, $47,000.00, $46,000.00
BTC (USD) Long-term Trend: Bullish (Daily Chart)
The BTCUSD price is growing again as it resumes another bullish rally above the moving average in its higher time frame. The price is above the moving average lines, suggesting a bullish trend.
The persistent bullish pressure to a $62,090 supply level in the last session has enhanced the coin prices to continue growing and remain above the resistance level in its recent high.
The current price of the BTCUSD pair at a $62,323 resistance level above the EMA-50 as the daily session opens today, indicates that the coin price is growing again and remains in an uptrend in the context of the strength of the market. This gives room for a more bullish impact on the market.
Therefore, if the bulls should increase their tension in the market, the price tendency will move above the $71,804 resistance level and drive the potential rally toward the upper resistance level for a stabilized crypto market.
Additionally, the daily stochastic indicates an uptrend. Hence, there is a tendency for the Bitcoin price to keep growing. As a result, buyers may take the crypto price up to a high of $73,000 soon in its long-term perspective.
BTC (USD) Medium-term Trend: Bearish (4H Chart)
The Bitcoin market price recovery targets the $73,000 supply level as it keeps growing again towards the resistance level in the medium-term outlook. The coin price is below the moving average, confirming its bearishness. 
The sustained bearish pressure to a $61,967 support level in the previous session has contributed to its bearishness in its recent price level.
Today, the bears are losing momentum as the BTCUSD pair resumes growing again to a $62,286 resistance level below the EMA-50 as the 4-hourly chart opens, indicating a growing interest among traders.
Thus, if the bullish pressure increases, a retest to a $66,550 high mark is needed to confirm its bullish race as the pair keeps growing again.
The daily stochastic remains in an uptrend, indicating the Bitcoin price may continue growing. In light of this, the market participants may witness a new recovery rally, and this may reach the $73,000 high mark soon as the crypto price recovery targets the $73,000 in the days ahead as the coin price keeps growing again in its medium-term time frame.
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