Bitcoin (BTC) Price Analysis: BTC Holds Crucial Support Area Around $60K, Bounces Upwards

Cryptocurrency markets are trading relatively flat but clinging to the green zone.

Cryptocurrency markets are showing a largely positive trend on Monday morning, with prices clinging to the green zone after a turbulent week.

Here's a snapshot of some notable statistics and developments:

Top Gainers:

Trader Notes:

With Bitcoin prices trading relatively flat, crypto trader Michaёl van de Poppe sees Bitcoin holding the crucial support area around $60,000 and bouncing upwards. He expects "some lower timeframe retests at $62,000, through which we will test $65,000-$66,000 later this week."

#Bitcoin has held the crucial support area around $60K and bounced upwards.

I'm expecting some lower timeframe retests at $62K, through which we will test $65-66K later this week.

Breakout above there = new all-time high test. pic.twitter.com/BhiFhCPT9r

Another trader Crypto Caesar analyzed Bitcoin's 7-year channel to mark the top and bottom of the channel. He stated, "top of this channel in a 4-year cycle timeframe is about $200,000 or so. Bottom of the channel Q4 2026 is about $70,000."

Pro-crypto trader Justin Bennett sees the BTC long liquidations size at $57,000 which is significantly higher than the shorts liquidated at $63,000. He concluded,

"It would be a shame if Bitcoin took these out before the real rally begins."

What’s Next: The influence of Bitcoin as an institutional asset class will be further explored at Benzinga's upcoming Future of Digital Assets event on Nov. 19.

See More: Best Cryptocurrency Scanners

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