|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cryptocurrency News Articles
The Next Cryptocurrency to Explode: Identifying Tokens Poised for Growth in November 2024
Nov 02, 2024 at 10:26 pm
The altcoin market looks promising, and many altcoins are recording gains. Bitcoin (BTC) is still struggling to return to its all-time high of $73K
Bitcoin (BTC) price showed promising signs of recovery on November 2, 2024, rising above the $67,000 level once again. The world’s leading cryptocurrency began the day trading at $66,823 before reaching an intraday high of $67,363, as reported by CoinMarketCap. At press time, BTC price encountered some resistance and was valued at $67,120, reflecting a 1.53% gain over the past 24 hours.
The recent bullish momentum in the Bitcoin market follows a period of consolidation, as BTC price hovered around the $66,000-$67,000 range for several days. However, as the month of November kicks off, traders and investors alike appear to beポジティブな技術 momentum to propel Bitcoin price toward higher levels once again.
Bitcoin price بالا رفت sharply in the second half of 2024, reaching an all-time high of $73,000 in March. After hitting this peak, BTC price encountered some resistance and began to consolidate, forming a bullish pennant pattern on the longer-timeframe charts.
A bullish pennant is typically characterized by a sharp price increase followed by a period of consolidation within a triangle formation. This pattern is considered bullish and often suggests that the initial bullish momentum will resume once the breakout occurs.
As Bitcoin price consolidated within this bullish pennant throughout October, many traders anticipated a breakout to occur to the upside, continuing the روند صعودي in the BTC market. With Bitcoin price breaking out of the consolidation range on November 2 and resuming its upward trend, this scenario appears to be unfolding.
Bitcoin price breakout targets and key levels to watch
With Bitcoin price breaking out to the upside on Friday, several key levels are coming into focus for the world’s leading cryptocurrency.
The first level of resistance for BTC price is at $68,000, followed by another resistance zone between $69,000-$70,000, Fib retracement level (70.5%) from the recent bullish wave also lies within this zone.
If Bitcoin price manages to clear these resistance levels, further buying pressure could propel BTC toward the psychological level of $70,000, followed by another resistance zone between $71,000-$72,000.
On the downside, the first level of support for BTC price is at $66,000, followed by another support zone between $64,000-$65,000. If Bitcoin price falls below these support levels, further selling pressure could drive BTC toward the Fib retracement level (38.2%) from the recent bullish wave at around $62,000, followed by another support zone between $60,000-$61,000.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
-
- Former China Securities Regulatory Commission Director Yao Qian Accused of Accepting Bribes via Cryptocurrency Transactions
- Nov 22, 2024 at 09:40 am
- Yao Qian, former director at the China Securities Regulatory Commission (CSRC), has been accused of accepting bribes through cryptocurrency transactions
-
- Chris Giancarlo Rumors Fuel Gensler Crypto Pump: Bitcoin Price Hits $98K – But Which Meme Coin Will Hit $1?
- Nov 22, 2024 at 09:15 am
- Crypto markets are entering a frenzy following the resignation of Securities and Exchange Commission (SEC) Chairman Gary Gensler. Hyped-up volatility stemming from Chris Giancarlo rumors has seen Bitcoin price hit a new all-time high above $98K. As cat meme coins go crazy, which meme coin will hit $1?
-
- Bitcoin Nears US$100,000 as Trump Presidency Promises to Usher in Crypto Boom
- Nov 22, 2024 at 09:05 am
- Bitcoin closed in on the historic US$100 000 level, fuelled by optimism that President-elect Donald Trump’s support for crypto heralds a boom as the US pivots to friendly regulations in place of a crackdown.