Our earlier Bitcoin price forecast came true as the coin increased to the level above $8,400 before faced a decline to the previous support at $8,300.
On the 1H chart, Bitcoin could not show a fast price recovery after a sharp fall on October 11. The leading cryptocurrency preferred to locate in a sideways trend, followed by a further decrease. The coin is likely to show the same price actions, as sellers are running out of steam and the MACD indicator is not going down. All in all, Bitcoin is about to trade between the levels of $8,100 and $8,300 in the next few days.