Bulls are struggling to hold Bitcoin price above $90,000, but BTC and altcoin charts suggest new yearly lows are the most likely outcome for cryptocurrencies in the short term.
Bitcoin attempted a recovery but is facing selling at higher levels, indicating that bears continue to sell on rallies.
Bitcoin has broken below the psychologically crucial $100,000 level, signaling that the bears are in full control. The next strong support on the downside is at $87,800.
Bitcoin bulls tried to spark a recovery, but were met with heavy selling pressure near $107,000. A similar fate awaited most altcoins, which sold off from their respective resistance levels.
Bitcoin bulls have held the price above the critical $100,000 support level, but a shallow bounce increases the risk of a breakdown. Will altcoins gain ground while BTC searches for direction?
Bitcoin bulls are aggressively defending the critical $100,000 support level, as a break below it may accelerate selling, potentially pulling BTC price below $87,800.
Bitcoin and altcoins’ early November performance mirrors that of October, when the market disregarded historical trends and fell to new lows. Will bulls show any interest in buying the range lows?
Bitcoin bulls defended the $107,000 level, but the net outflows from the spot Bitcoin ETFs increase the risk of a breakdown in the near term.
Bitcoin swing traders took profits, and bears opened fresh shorts after BTC failed to recapture levels above $118,000. Will today’s FOMC presser kickstart a trend reversal in BTC and altcoins?
Bitcoin and several major altcoins have started a strong recovery, but the relief rally is expected to face significant headwinds near major overhead resistance levels.