Bitcoin

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   Nov 03, 2023 at 09:25 // Price
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   <div class="avatar" style="background-image:url(/upload/resize_cache/iblock/42a/60_60_1/42aa5ec847dba7f5a2bce5378ae70614.png)"></div> <span>Author<br>Coin Idol </span>
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 </div> <img class="page-news__main-pic lazy-load-detail-picture" src="https://coinidol.comdata:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAEAAAABCAQAAAC1HAwCAAAAC0lEQVR42mNkYAAAAAYAAjCB0C8AAAAASUVORK5CYII=" data-lazy-src="https://coinidol.com/upload/resize_cache/iblock/2de/900_900_1/susjdzecfzj2buo5515q4o4o3wtycli9.jpg" width="900" height="563" alt="" title="">
 <p><strong>Bitcoin (BTC) has been fairly stable over the past week as the bulls have taken control of prices.</strong></p>
 <h2 style="text-align: justify;" id="bitcoin-btc-price-long-term-prediction-bullish">Bitcoin (BTC) Price Long Term Prediction: Bullish</h2>
 <p style="text-align: justify;">Bitcoin (BTC) has been trading above the $33,400 support level since October 27.</p>
 <p style="text-align: justify;">On October 24, BTC reached a high of $35,198 before being pushed back by a long candle. The largest cryptocurrency retreated and continued its consolidation between the $33,400 and $35,200 levels.</p>
 <p style="text-align: justify;">The bulls are currently facing resistance as buyers are trying to break above the $35,000 level. If the current resistance is broken, Bitcoin is expected to reach a high of $40,000. Bitcoin price will fall to the breakout level of $31,845 if it retraces and breaks the support level of $33,400. In the meantime, the cryptocurrency is trading at $35,390 at the time of writing.</p>
 <h3 style="text-align: justify;" id="technical-indicators">Technical Indicators:</h3>
 <p style="text-align: justify;">Key resistance levels – $30,000 and $35,000<br> Key support levels – $20,000 and $15,000</p>
 <p style="text-align: justify;"><img width="1024" alt="BTCUSD_(Daily Chart) – NOV. 2.jpg" src="https://cdn.thebittimes.com/images/2023/11/03/981e2385da66e709c4d8dcfb7977ec30.webp" height="564" title="BTCUSD_(Daily Chart) – NOV. 2, 2023"><br></p>
 <h2 style="text-align: justify;" id="bitcoin-price-indicator-reading">Bitcoin Price Indicator Reading</h2>
 <p style="text-align: justify;">After Bitcoin's consolidation, the price bars bounce below and above the horizontal moving average lines. This shows that the cryptocurrency is in a sideways trend. The current uptrend is reflected on the daily chart by price bars that are above the moving average lines.</p>
 <h2 style="text-align: justify;" id="what-is-the-next-direction-for-btc-usd">What is the next direction for BTC/USD?</h2>
 <p style="text-align: justify;">Bitcoin remained steady last week, trading in a range above the $33,400 support. Since Bitcoin is limited to a range, it is difficult to predict in which direction it will move. The price of the cryptocurrency is hovering below the $36,000 resistance level. Doji candlesticks dominate the price bars.</p>
 <p style="text-align: justify;"><img width="1024" alt="BTCUSD_( 4- hour Chart) – NOV. 2.jpg" src="https://cdn.thebittimes.com/images/2023/11/03/aa161a92f94ce8e5cd812771d4766a73.webp" height="564" title="BTCUSD_( 4- hour Chart) – NOV. 2, 2023"><br></p>
 <p style="text-align: justify;">Last week Coinidol.com reported that Bitcoin (BTC) price has reached the $35,000 resistance level twice while continuing its sideways movement.&nbsp;</p>
 <p style="text-align: justify;"><i><span style="color: #959595;">Disclaimer. This <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> and forecast are the personal opinions of the author and are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol.com. Readers should do their research before investing in funds.&nbsp;</span></i></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/bitcoin-fluctuates-in-a-range-as-it-targets-psychological-price-of-40-000-tbt68950.html">https://thebittimes.com/bitcoin-fluctuates-in-a-range-as-it-targets-psychological-price-of-40-000-tbt68950.html</a></p>

Bitcoin Fluctuates In A Range As It Targets Psychological Price Of $40,000

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