Nov 1 - Bitcoin resistance/support levels & buy/sell zones
Still going sideways. The cryptocurrency market almost seems to be more stable than the traditional markets these days. A breakout still seems to be imminent.
Breakouts well above 6k5 to 6k7 levels (along the wedge pattern) would definitely be bullish sign. However, that move would still need to be confirmed by a higher high around 8k2, before it can be considered a move into a bull market.
A breakout below 6k levels, might force the price of Bitcoin to fall further. At current levels, I still think there seems to be little room to go down much more, but be prepared for a drop below 5k8 towards 4k4.
Breakouts well above 6k5 to 6k7 levels (along the wedge pattern) would definitely be bullish sign. However, that move would still need to be confirmed by a higher high around 8k2, before it can be considered a move into a bull market.
A breakout below 6k levels, might force the price of Bitcoin to fall further. At current levels, I still think there seems to be little room to go down much more, but be prepared for a drop below 5k8 towards 4k4.
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