BTC in Weekly Timeframe: Holding Support.
2024-11-05

Hello, traders!

In my previous update on the daily timeframe, I mentioned a possible rejection for BTC, which has now occurred. The $69k level was expected to hold as support, but it failed, and the price is currently trending at $68k, which remains a support level, though a weaker one.

On the weekly timeframe, BTC is still showing strong support, but if we see a further correction, $65.5k is likely the next level to watch. The upcoming weekly close needs to stay above this support level.

With the U.S. election happening today, the market is likely to experience some volatility, so please be cautious and trade safely.

I’ll continue to keep you all updated on market conditions.