Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Bitcoin News & Updates => Topic started by: Btceth01 on November 10, 2021, 06:30:34 AM
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Bitcoin price started a downside correction from the $68,500 zone against the US Dollar. BTC might start a fresh increase unless there is a break below $64,000.
Bitcoin started a downside correction below the $68,000 and $67,000 levels.
The price is still trading above $65,000 and the 100 hourly simple moving average.
There is a key bullish trend line forming with support near $66,000 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could start a fresh increase if the $64,000 support remains intact.
Bitcoin Price Corrects Lower
Bitcoin price gained pace above the $65,000 support zone. BTC extended its rally above the $66,500 and $67,000 resistance levels. The price even surged above the $68,000 level.
It traded to a new all-time high near $68,495 before there was a downside correction. The price declined below the $68,000 and $67,800 support levels. There was a break below the 50% Fib retracement level of the upward move from the $65,200 swing low to $68,495 high.
However, bitcoin still trading above $65,000 and the 100 hourly simple moving average. There is also a key bullish trend line forming with support near $66,000 on the hourly chart of the BTC/USD pair. Source (https://cryptonews.net/2592433/?utm_source=CryptoNews&utm_medium=app&utm_campaign=shared)