Bitcoin Registered New ATHs, Is $70,000 Coming Soon?

 2021-11-09 08:11:16

Price Performance: Bitcoin started a fresh rally above $67,000 last night(Nov. 9, UTC) and set a new all-time high at $67,788. And BTC created another new high just a few hours ago at $68,520. From the hourly chart, BTC may accelerate higher and it could even test the $70,000 level today.

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Price Prediction: The price of Bitcoin is trading above $67,900 and running well above the 100 hourly simple moving average. Now that $65,000 became the support line and $68,500 become the resistance line. If Bitcoin remained stable above $67,500, it could accelerate more energy for the coveted $70K in the near future.

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It seems that Bitcoin is not likely to form a bearish zone in the following hours. From the chart, we can see that the mode of the K-line is almost symmetrical with that from Oct. 20- 28. But it is hard to say the next day and Bitcoin might start a correction at $65,000.

 

Major Support Levels – $67,500, followed by $67,000.

Major Resistance Levels – $68,500, $69,000 and $70,000.

 

Tips: Quotes are time-sensitive, and please pay attention to take good risk control and make good use of "Take Profit" and "Stop Loss" tools.

 

DISCLAIMER: The analysis of cryptocurrencies in real-time should be taken for informational purposes only, and in no case should it be taken as an investment signal. Every investment and trading move involves risk. You should conduct your own research when making a decision.

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