Bitcoin (BTC) Price Prediction for November 6
11/06/2024 22:39How long may rise of Bitcoin (BTC) last?
Original U.Today article
How long may rise of Bitcoin (BTC) last?
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Almost all of the major coins are in the green zone today, according to CoinMarketCap.
BTC/USD
The rate of Bitcoin (BTC) set a new all-time high today, rising by more than 7%.
Despite today's sharp growth, the price of BTC keeps looking bullish. If the breakout of the $75,080 level happens, the upward move can continue to $76,000 and above.
On the bigger time frame, one should pay attention to the daily bar closure in terms of the $73,600 level.
If it happens above it, there is a chance to see a test of new peaks until the end of the week.
From the midterm point of view, the picture is quite similar. If the closure above $73,794 happens and the weekly bar closes with no long wick, the accumulated energy might be enough for a move to the $80,000 range.
Bitcoin is trading at $73,777 at press time.
About the author
Denys Serhiichuk
With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at [email protected].
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