Having added to its $503.07 increase during 7 days of gains, This session seems to remain in the same lane for now — currently trading at $19,635, Bitcoin remains range-bound between $19,500 and $19,661.
Meanwhile, United States NY Empire State Manufacturing Index (Oct) released yesterday at 12:30 UTC with a figure of -9.1, while the previous figure was -1.5.
Bitcoin broke through the $19,600 resistance and climbed $39.66 above it. Bollinger band analysis indicates that current price action is approaching the upper band at $20,157, thereby suggesting that Bitcoin is becoming overvalued.
Despite basking in an uptrend and bullish intraday sentiment, chart analysis indicates Bitcoin is set for a reversal in the coming days.
At the same time, Ripple is trading around $0.475 (down $0.005). FTX Token draws back 0.66% to trade around $24.
Also worthy of note, United States Crude Oil Inventories expected to decline to 1.55 million while its preceding data was 9.88 million, data will be available tomorrow at 14:30 UTC.
The market is looking forward to the release of new data: United States Building Permits (Sep) will be released tomorrow at 12:30 UTC.
Approximately 11 months ago, Bitcoin reached a significant high of $67,600 but has struggled to hold onto its gains and declined 71.06% since then.