Weekly BTC Update: Key Levels & Path to November ATH
2024-10-27

On October 6th, I projected a higher low around 58k, setting up a rally to the 67-69k range, with a pullback to 64k before a move to new all-time highs (ATH) in November. The linked chart outlines this setup.

For this scenario to play out, we may see one last dip into 64k—often on Tuesdays—before bulls push toward a strong monthly close.

Levels to Watch This Week:

	1.	Key Monthly Close Level: 67,540, which needs to be held as support into monthly close for further upside.
	2.	2024 Resistance Trendline: Currently moving down from 67,760 to 67,680.
	3.	Major Support:
	•	0.614 Fib: 64,312
	•	Upsloping Support Trendline: Spanning 63,700 to 64,600.

A pullback isn’t certain, but these levels are crucial. Watch for bulls to hold these support points and build momentum toward an ATH in November. A breakdown of the 58k low would be very concerning and could invalidate this bullish outlook.