Bitcoin Update !!
2024-11-02


Bitcoin recently tested strong resistance around the $72,000 - $73,000 level, indicated by the orange line. However, it could not break through, and there are signs of a potential pullback.
The red arrow suggests a possible retracement. If Bitcoin fails to regain momentum above this resistance, we could see a correction towards lower support levels, with the $64,000 - $66,000 range as an immediate target.

Bitcoin continues to trade within the descending channel. The channel's lower trendline could serve as support in case of a further pullback, while the upper boundary remains a significant resistance.
 The chart shows the moving averages, with Bitcoin currently positioned above the midline support, which may offer some stabilization if prices pull back.

Watch for any clear breakout or sustained rejection around the resistance level to confirm the next trend direction.

Disclaimer: This analysis is for informational purposes and is not financial advice. Always stay updated with market movements and adjust your trading strategies as needed.

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@Peter_CSAdmin