Bitcoin Price Prediction for Today, November 3 – BTC Technical Analysis

bitcoin price prediction shows btc may fall below moving averages as the first digital currency slides lower.

bitcoin Prediction Statistical Data:

• bitcoin Price Now – $68,662.30
• bitcoin market cap: $1.35 trillion
• bitcoin circulating supply: 19.78 million
• Total bitcoin supply: 19.28 million
• bitcoin Coinmarketcap Ranking – #1

Investing early in cryptocurrencies can generate notable returns, and bitcoin (btc) exemplifies this potential. Currently, the price of bitcoin has fluctuated between a low of $67,879.81 and a high of $69,676.87 in the last 24 hours, with an all-time high of $73,750.07 reached on March 14, 2024, marking a slight decline. of 7.19% since then. The most surprising aspect of bitcoin's journey is its all-time low of just $0.04865, recorded on July 14, 2010. Since then, bitcoin has risen an incredible 140,696,110.32%, underscoring the immense rewards for early adopters. investors and highlights the importance of timing and foresight in the dynamic cryptocurrency landscape.

btc/USD Long-Term Trend: Bullish (Daily Chart)

Key levels:

Resistance levels: $74,000, $75,000, $76,000

Support Levels: $64,000, $63,000, $62,000

bitcoin/”>The current btc/USD market environment shows bearish sentiment as traders reduce leveraged positions due to upcoming political events.. The reduction in overnight open interest points to cautious risk reduction, indicating that many are choosing to minimize exposure ahead of potential volatility. This aligns with the broader expectation of a near-term downtrend, particularly with the upcoming election and uncertainties affecting the broader market.

bitcoin Price Prediction: bitcoin (btc) Could Fall into the Negative Zone

bitcoin price crosses below the 9-day and 21-day moving averages as the king coin touches the daily low of $68,092.86. Meanwhile, support for bitcoin is currently identified between the $66,500 and $68,000 levels. These price points serve as potential stabilization zones if the bearish momentum slows. However, if bitcoin continues its downtrend, the next test will be holding above this support range, as a drop below it could lead to a more substantial drop.

However, if the price were to fall below the $66,000 support level, it is likely to face further downtrends, further bearish movement could place supports at $64,000, $63,000 and $62,000, leaving room for btc to fall further. Meanwhile, the 9-day MA technical indicator remains above the 21-day MA, but the trading volume supports the bears. Therefore, if the bulls push the price back towards the upper boundary of the channel, btc/USD may locate resistance levels at $74,000, $75,000, and $76,000.

btc/USD Medium-Term Trend: Range (4H Chart)

On the 4-hour chart, bitcoin price continues to oscillate below the 9-day and 21-day moving averages, but immediate support is likely to be found around the $67,500 level. Meanwhile, the market price is likely to fall below this level if the bears continue to dominate the market.

However, a fresh bearish move could reach the critical support at the $66,000 level and below, while resistance could lie above the 9-day moving average at the $17,500 resistance level and above. In other words, bitcoin price may continue to face the downside as the 9-day moving average is still below the 21-day moving average.

However, @TATrader_Alan, who has over 60,000 followers on If this level is successfully held for $btc, we can expect another strong bullish move.

<blockquote class="twitter-tweet” data-width=”550″ data-dnt=”true” wp_automatic_readability=”8.6614173228346″>

twitter.com/hashtag/bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin It has a retracement to the 0.618 Fibonacci level, which is a common support for a healthy retracement. If this level is maintained twitter.com/search?q=%24BTC&src=ctag&ref_src=twsrc%5Etfw”>$btcthere will be other impulsive movements. pic.twitter.com/gzfg2yZuas

— Tardigrade Trader (@TATrader_Alan) twitter.com/TATrader_Alan/status/1852980793460801568?ref_src=twsrc%5Etfw”>November 3, 2024

Alternatives to bitcoin

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