Bitcoin (BTC) Shows Strength As Price Breaks $21,300; Here Are Levels To Watch
05 Novembro 2022 - 11:00PM
NEWSBTC
BTC’s price needs to rally high as the price continues to
stall in its price movement despite the market looking green across
boards. BTC’s price continues to trend, creating a more
bullish bias as the price aim for $22,500, where the price could
face resistance. BTC’s price remains indecisive on the daily
timeframes as the price trades below the 50 Exponential Moving
Average (EMA). The price of Bitcoin has surpassed the expectations
of many holding out for the price to continue in its downtrend as
many traders looked trapped with no sign of Bitcoin (BTC) going
lower as the price of Bitcoin eyes $22,500. The crypto market has
seen some relief across all assets, with Bitcoin (BTC) leading the
way, rallying and dragging the market. (Data from Binance) Bitcoin
(BTC) Price Analysis On The Weekly Chart Many altcoins have
continued to produce over 200% gains over the past 7 days of
breaking out of their range-bound movement, as many believe more
hope is returning to the crypto space. The beginning of the week
appeared skeptical, but things are starting to shape up and look
more promising for some altcoins, such as BAND, which rallied over
100% in less than 24 hours, demonstrating the price action and
volume for buy orders. The price of BTC has shown strength breaking
above $21,200 and holding up pretty well. After dropping from
its high of $25,000 in recent months with so much hype for BTC, the
price of BTC has failed to replicate this movement to that shaw
price actions by them. The price of BTC saw its price trade
at a high on the weekly chart; the price swiftly bounced from this
region as the price rebounded to a region of $21,000, as the price
found itself trading in a range. Weekly resistance for the price of
BTC – $22,500. Weekly support for the price of BTC – $219,500.
Price Analysis Of BTC On The Daily (1D) Chart In the daily
timeframe, the price of BTC continues to look strong as the price
could be set to rally to a high of $22,500 after bulls keep pushing
higher of the chart The price of BTC trades at $21,300, just above
the 50 EMA, which indicates a good relief sign for BTC’s price on
the daily timeframe could be poised for a major breakout if prices
close above $21,500 after facing rejection to trend
higher. Daily resistance for the BTC price –
$22,500. Daily support for the BTC price – $19,500-$19,000. Related
Reading:
https://www.newsbtc.com/analysis/dogecoin-shows-bullish-bias-as-0-12-support-holds-will-0-15-be-breached/
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