Bitcoin

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Bull keep controlling the situation on the market, according to <a href="https://u.today/near-price-analysis-for-november-2" rel="noopener noreferrer nofollow">CoinMarketCap</a>. <img data-entity-type="file" data-entity-uuid="25aceea3-184b-4660-8f07-c9a4df2f81c7" src="https://u.today/sites/default/files/inline-images/top10_750.png">Top coins by<a href="https://coinmarketcap.com/" rel="noopener noreferrer nofollow"> CoinMarketCap</a>
<h2 class="text-align-justify" id="btc-usd">BTC/USD</h2>
The rate of Bitcoin (BTC) has increased by 1.51% since yesterday. <img data-entity-type="file" data-entity-uuid="9621c877-2d75-4dd2-a9fe-a4faacf2e5b2" src="https://u.today/sites/default/files/inline-images/btc1_149.png">Image by&nbsp;<a href="https://www.tradingview.com/symbols/BTCUSD" rel="noopener noreferrer nofollow">TradingView</a>
On the hourly chart, the price of BTC is looking bearish, as the rate is approaching the support of $34,718. If bulls cannot seize the initiative, there is a high chance of seeing a breakout, followed by a move to the $34,400 zone. <img data-entity-type="file" data-entity-uuid="e269dd6a-7312-43d8-b5c7-b2ec845b188c" src="https://u.today/sites/default/files/inline-images/btc2_133.png">Image by&nbsp;<a href="https://www.tradingview.com/symbols/BTCUSD" rel="noopener noreferrer nofollow">TradingView</a>
On the bigger time frame, the rate of BTC has made a false breakout of the recently formed resistance of $35,612.&nbsp;
If the bar closes with no long wicks, the correction may continue to the $34,000 area soon. <img data-entity-type="file" data-entity-uuid="8d961ba0-953b-4ba8-9ff3-ce009d686530" src="https://u.today/sites/default/files/inline-images/btc3_132.png">Image by&nbsp;<a href="https://www.tradingview.com/symbols/BTCUSD" rel="noopener noreferrer nofollow">TradingView</a>
A similar picture can be seen on the weekly time frame. If the weekly candle closes far from $35,198, one can expect a further decline to the $33,000-$34,000 area. Such a scenario is relevant until mid-November.
Bitcoin is trading at $34,708 at press time.

Bitcoin (BTC) Price Analysis for November 2

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