Bitcoin Price Analysis — November 11
Following the slump to the 63K low, BTC has recorded a minor recovery to the mid-
65K zone, as bulls fight to push the price back to previous highs. However, BTC remains over 5% below its weekly high. That said, the primary cryptocurrency appears to be climbing out of bearish conditions on my hourly chart. BTC bulls need to secure a close above the 66K resistance over the coming hours or risk a bearish continuation towards the 63K low. A fall to the 63K level could further foment a correction to my ascending trendline near 62K. Nonetheless, these bearish projections are highly unlikely at the moment, as Bitcoin remains overwhelmingly bullish on the larger timeframe.
Meanwhile, my resistance levels are at $66,000, $67,000, and $68,000, and my key support levels are at $65,000, $64,000, and $63,000.
Total Market Capitalization: $2.85 trillion
Bitcoin Market Capitalization: $1.22 trillion
Bitcoin Dominance: 43.2%
Market Rank: #1
65K zone, as bulls fight to push the price back to previous highs. However, BTC remains over 5% below its weekly high. That said, the primary cryptocurrency appears to be climbing out of bearish conditions on my hourly chart. BTC bulls need to secure a close above the 66K resistance over the coming hours or risk a bearish continuation towards the 63K low. A fall to the 63K level could further foment a correction to my ascending trendline near 62K. Nonetheless, these bearish projections are highly unlikely at the moment, as Bitcoin remains overwhelmingly bullish on the larger timeframe. Meanwhile, my resistance levels are at $66,000, $67,000, and $68,000, and my key support levels are at $65,000, $64,000, and $63,000.
Total Market Capitalization: $2.85 trillion
Bitcoin Market Capitalization: $1.22 trillion
Bitcoin Dominance: 43.2%
Market Rank: #1
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