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Bitcoin (BTC) Price Slightly Dipped in the Last 24 Hours but Continues to Hang on the $69,000 Level

Linda Hamilton
Linda HamiltonOriginal
2024-11-02 12:48:26487browse

Reports showed that Bitcoin price slightly dipped in the last 24 hours but continues to hang on the $69,000 level after breaching over $73,000 several days ago.

Bitcoin (BTC) Price Slightly Dipped in the Last 24 Hours but Continues to Hang on the ,000 Level

Bitcoin price showed impressive gains last October 2024, trading close to the $71,000 level and attempting to reach investors’ expectations of the coin hitting $73,700. However, the cryptocurrency experienced a slight dip, falling to $70,800.

Despite the minor decrease in price, a lot of people are wondering why Bitcoin’s price is up but Google searches are down.

Bitcoin price still performed well last October 2024 despite experiencing a slight decrease in price, falling below $71,000 to $70,800 and failing to meet investors’ expectations of the coin hitting the $73,700 mark.

Bitcoin performed well last October, showing a slight decrease in price but still managing to stay above the $70,000 level. Investors had high hopes for Bitcoin to reach $73,700, but unfortunately, it fell short of expectations.

After experiencing a massive price rally and reaching a new all-time high above $73,000, Bitcoin encountered some selling pressure and began to correct lower. The world’s leading digital asset fell below key support levels, including the $72,000 and $71,000 levels.

BTC also experienced a clear break below a rising support trendline, connecting the lows from September 27 and October 11 on the 4-hour chart (Fib levels). The good news is that buyers quickly stepped in to defend the next critical support level near $70,800.

Bitcoin price now seems to be preparing for the next move, either up or down. A close above $71,000 could spark a fresh wave of buying towards the $72,200 resistance level.

Clear gains above the $72,200 resistance could pave the way for a bullish move towards the $73,700 level, followed by the main resistance at $75,000.

On the downside, initial support is near the $70,800 level. A clear break below this support could trigger further losses towards the $70,000 psychological level.

Essential levels to watch for the next BTC move:

Support levels: $70,800, $70,000, $69,200

Resistance levels: $71,000, $72,200, $73,700

Bitcoin price began a strong recovery wave from the $68,600 support zone. BTC price cleared the $70,000 resistance level and started a bullish move.

Bitcoin price now trades above the $71,000 level, attempting to gain bullish momentum to clear the next critical resistance near $71,300.

Clear gains above the $71,300 resistance could trigger a bullish move towards the $72,200 resistance level.

On the downside, initial support is near the $70,800 level. A clear break below this support could trigger further losses towards the $70,000 psychological level.

Bitcoin price is attempting to gain bullish momentum and clear the next critical resistance near $71,300. Clear gains above this level could trigger a bullish move towards the $72,200 resistance.

On the other hand, a clear break below the $70,800 support could trigger further losses towards the $70,000 psychological level.

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