CandleFocus Bitcoin (BTC) Price Prediction for November 1
2024-11-01
Author: Content Editor
The majority of cryptocurrencies are experiencing a decline in value, with Bitcoin's rate dropping by 1.56% over the past 24 hours. However, on the hourly chart, Bitcoin has surpassed the local resistance level of $70,370, with the potential to reach the $72,000 zone within the next day. On the daily timeframe, buyers are attempting to regain control following a bearish period, potentially leading to an upward move towards the $73,794 resistance level. In the midterm, it is advised to wait for the weekly candle to close before making any decisions. If the closing occurs near resistance without a long wick, there may be enough momentum for a breakout and a test of the $75,000 mark. Currently, Bitcoin is trading at $71,432.
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