Bitcoin (BTC) Price Analysis: 35272 Technical Barrier Tested – November 6, 2023

Bitcoin (BTC) price analysis: 35272 Technical barrier tested – November 6, 2023

Bitcoin (BTC/USD) tried to assert itself again Progress early in Asian session when the couple retired above The 35000 figure after Buying pressure arose around the 34668 Area representing the 38.2% retracement the youngest Estimate range out of 34100 To 35014.99. cops hunted BTC/USD higher for the 35257.24 area, a check of 61.8% retracement the youngest Depreciation area out of 35541.43 To 34100. BTC/USDs youngest high around the 35997.80 Area shown a check one Price target upwards in connection with the most recent Buying pressure around the 28122 And 32525 areas. The recent high also represented a check of 50% retracement of a historical value loss range out of 69000 To 15460and also represented a check of 61.8% retracement of Depreciation area out of 48240 To 15460.

Also dealers stops selected above The 34190.77 area during the recognition up to several months Heightsa former important one Price target down with reference to historical selling pressure around the All-time high from 69000 And 59249 levels. Additionally Price targets upwards include the 36115, 36541, 36798, 37239, 37890, 38409, 38561, 38584, 39636, 40549, 40743, 40837, 41402, 43841, 43860And 44269 levels. Following the rise higherAreas of technical support and potential Buying pressure include the 33761, 33378, 32377, 31758, 31259And 30448 levels. TWheelers observe that the 50 bar MA (4 hourly) Is bullish, which is indicated above The 100 bar MA (4 hourly) And above The 200 bar MA (4-hourly). Also the 50 bar MA (hourly) Is bearish show below The 100-bar MA (hourly) And above The 200-bar MA (hourly).

Price activity is closest 50 bar MA (4-hourly) at 34525.79 and that 100 bar MA (Hourly) at 34792.33.

Technical support is expected around 31238.97/ 30028.62/ 28818.26 with Stop expected below.

Technical resistance is expected around 36541.57/ 37239.15/ 38584.16 with Stop expected above.

At 4-hourly Diagram, SlowK Is Bullish about SlowD while MACD Is Bullish over MACDAverage.

At 60 minutes Diagram, SlowK Is Bullish about SlowD while MACD Is Bullish over MACDAverage.

Technical analysis by Sally Ho
Check out yesterday’s trading analysis

Disclaimer: Sally Ho’s technical analysis is provided by a third party and is for informational purposes only. It does not reflect the views of Crypto Daily nor is it intended as legal, tax, investment or financial advice.

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