Bitcoin and Altcoin Overview : Key Levels to Watch (October 16-17)

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On October 16, Bitcoin exhibited notable **volatility**, consolidating above the critical volume level of **$66,000**. The price action filled the selling zone between **$66,500** and **$68,200** before retreating. Currently, there's optimism for upward movement, bolstered by sales absorption via delta and a strong reaction at the **$66,000** mark, forming a new support zone between **$66,000** and **$65,100**.

However, if the price consolidates below this zone, we may see a trend reversal to the downside. **Buying zones** to watch include **$66,000-$65,100**, **$63,100-$62,500**, **$60,000-$59,000**, and **$55,000-$53,800**. On the flip side, potential **selling zones** are marked at **$70,000** and **$72,000**.

Regarding altcoins, for **MEME**, key volumes are concentrated in the range of **$0.0144-$0.015**. A strong reaction upon testing this zone may present a short position opportunity.

Conclusion :

Bitcoin is at a critical juncture, with several key support and resistance levels that will influence its next move. Traders should remain vigilant.

Advice :

Monitor Bitcoin's price closely around the **$66,000** mark for signs of either support or a breakdown. For altcoin trading, especially MEME, be prepared to act quickly if the price reacts to the **$0.0144-$0.015** zone. Always employ risk management strategies and adjust your positions according to market dynamics.