{"id":29947,"date":"2024-11-04T12:21:03","date_gmt":"2024-11-04T12:21:03","guid":{"rendered":"https:\/\/zebpay.com\/in\/?p=29947"},"modified":"2024-11-04T12:21:04","modified_gmt":"2024-11-04T12:21:04","slug":"bitcoin-technical-analysis-report-4th-november-2024","status":"publish","type":"post","link":"https:\/\/zebpay.com\/in\/blog\/bitcoin-technical-analysis-report-4th-november-2024","title":{"rendered":"Bitcoin Technical Analysis Report | 4th November 2024"},"content":{"rendered":"\n

Bitcoin’s pullback near its all-time high, earlier this week, may have prompted short-term traders to lock in profits. Despite the price retreating to around $68,000, analysts remain optimistic, expecting Bitcoin to find solid support within the $65,000 to $68,000 range. The upcoming U.S. elections are seen as the next significant catalyst for the crypto market. A break above $70,000, in the near term, could lift investor sentiment, potentially driving renewed buying interest in select altcoins as well.<\/p>\n\n\n\n

At the time of writing, BTC was trading at $68,950.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

BTC, after making the all time high of $73,777, was trading in the \u2018Descending Channel\u2019 pattern. The asset gave a breakout above the channel and rallied up to $73,620. Bulls, however, failed to cross the previous all time and the prices witnessed some profit booking. BTC has struggled to give a weekly closing above the $70K mark in the past, and this time also it failed to do that. Once it gives a weekly close above $70,000, and sustains above the previous all time high, then we may expect it to rally further.

Key Levels:<\/strong><\/p>\n\n\n\n

Support 2<\/strong><\/td>Support 1<\/strong><\/td>Asset<\/strong><\/td><\/td>Resistance 1<\/strong><\/td>Resistance 2.<\/strong><\/td><\/tr>
$62,000<\/td>$66,500<\/td>BTC<\/strong><\/td><\/td>$70,000<\/td>$73,777<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

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Bitcoin’s pullback near its all-time high, earlier this week, may have prompted short-term traders to lock in profits. Despite the price retreating to around $68,000, analysts remain optimistic, expecting Bitcoin to find solid support within the $65,000 to $68,000 range. The upcoming U.S. elections are seen as the next significant catalyst for the crypto market. […]<\/p>\n","protected":false},"author":1,"featured_media":29949,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"_ayudawp_aiss_exclude":false,"footnotes":""},"categories":[26],"tags":[310,16],"acf":[],"_links":{"self":[{"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/posts\/29947"}],"collection":[{"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/comments?post=29947"}],"version-history":[{"count":1,"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/posts\/29947\/revisions"}],"predecessor-version":[{"id":29951,"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/posts\/29947\/revisions\/29951"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/media\/29949"}],"wp:attachment":[{"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/media?parent=29947"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/categories?post=29947"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/tags?post=29947"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}