Bitcoin and altcoin overview (November 07-08)
2024-11-07

Yesterday, Bitcoin retested the $75,000 level we mentioned earlier, but only encountered pushing volume rather than a halt, after which it reached a new ATH again.

On one hand, it’s good that the $75,000 level responds in favor of buyers, with anomalies appearing there for the fourth time, making it a crucial point at the moment. On the other hand, the new ATH update was quite weak, and delta shows buyer exhaustion.

Currently, a rotation within the formed volume zone of $73,500–$75,000 can be expected, as a full consolidation and positioning have not yet been established. A retest of the local high would fully confirm buyers' intentions and make this zone a strong support level.

 Buy zones:  $71,400–$70,800 (mirror volume zone), $63,100–$62,500 (mirror volume zone), $60,000–$59,000 (buyer activity).

 Interesting altcoins. 

For  AVAX,  we have broken the wave structure and consolidated above an important volume zone. Currently, the $26.5–$25.8 levels act as a mirror volume zone. If tested and there is a reaction, we will open a long position.
