BTC/USD are traded at 61567 and continue to move in the framework of the correction and formation of the model ”Triangle”. Capitalization of cryptocurrency Bitcoin at the time of publication of the forecast is $1,198,954,177,194. The moving averages indicate the presence of a short-term lateral trend on Bitcoin. Prices struck the area between the signal lines upwards, which indicates pressure from the “digital gold” buyers and the potential continuation of the increase in the cost of the asset is already from current levels. As part of the forecast of the cryptocurrency course, on November 3, 2021, it is worth an attempt to develop a digital asset value and a support level test near the area 60505. Where to expect a rebound up and an attempt to continue the bitcoin rate for higher than the region 67255.
Bitcoin Forecast and Analysis BTC/USD November 3, 2021
An additional signal in favor of the BTC/USD quotation lifting will perform a bull line test on the relative force indicator. The second signal in favor of this option will be a rebound from the upper boundary of the downstream channel. Cancellation of the rate of course and cost Bitcoin will be a drop in the cost of the asset and breakdown area 56905. This will indicate the support area of the support area and continue the Bitcoin rate with a potential goal at the level of 53505. The asset price entry will be confirmed by the area of the asset price. Also indicate on the test of the upper limit of the model ”Triangle”.
Bitcoin Forecast and Analysis BTC/USD November 3, 2021 suggests an attempt to test the support level near the region 60505. And further, the continuation of the growth of cryptocurrencies with a potential target at 67255. An additional signal in favor of the Bitcoin rate will be the test of the support line on the relative power indicator. Cancellation of the cripocarbon lift option will be the fall and breakdown of the region 56905. This will indicate a continuation of a decrease with a potential goal below 53505.
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