Bitcoin Price Analysis: Possible Scenarios Ahead
2024-11-11

hello guys.

Current Price Movement: Bitcoin has experienced a strong upward movement, nearing the resistance zone around $82,000–$83,000. It is trading near the upper boundary of a rising channel.

 
 Scenario 1: A potential bullish continuation where Bitcoin could break above the $83,000 level, pushing towards $84,000–$85,000.
 Scenario 2: A possible pullback before a continuation, with Bitcoin retesting support levels around $80,000–$81,000 before attempting another move up.
 

 Support and Resistance Levels: 
Resistance: $82,000–$83,000 (near-term), $84,000–$85,000 (upper target).
Support: $80,000–$81,000 (short-term), $73,000 (lower channel boundary).

 Trend: Overall bullish momentum remains, but a pullback is possible before the next leg up.