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On November 8th, when this article was written, <a href="https://en.coin-turk.com/nobody-expected-this-the-expected-signal-for-bitcoin-and-altcoins-came-from-binance-ceo-cz/" data-wpel-link="internal" rel="noopener noreferrer nofollow">BTC</a> had not surpassed $36,000 and had not given up on $35,000. After reaching its peak, the price seems to have paused its rise. Moreover, the recent decrease in Deribit position size, which we highlighted a few hours ago, also stands out as a weakness signal. So what’s next?
<h2 style="text-align: justify" id="will-bitcoin-btc-fall">Will Bitcoin (BTC) Fall?</h2>
The next psychological resistance for the king cryptocurrency is at $40,000, but the price has not yet surpassed $36,000. Popular crypto <a href="https://newslinker.co/category/finance/" data-wpel-link="exclude" rel="noopener noreferrer nofollow">analyst</a> Skew emphasized the need for more demand in the spot markets for further growth. Order book data from exchanges shows that buyers are starting to adopt a cautious approach. Investors may be preparing for a possible pullback as there has been no new high since November.
<img decoding="async" class="wp-image-274753 aligncenter" src="https://coin-turk.com/wp-content/uploads/2023/11/BTC-Borsa-Emir-Defter.jpeg" alt="" width="1070" height="636">
Another popular crypto commentator, Credible <a href="https://en.coin-turk.com/the-decline-in-total-market-value-of-stablecoins-continues/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Crypto</a>, said that the possibility of a drop to the $33,700 region for the king cryptocurrency is not likely in the short term. In the event of a possible support test, the analyst does not expect the $34,500 region to be breached.
<blockquote>
 “I do not expect to see below $33,700 in the short-term projection. In other words, regardless of how it goes in the coming days, I think the downside is extremely limited.”
</blockquote>
Credible Crypto also said that clues about the outcome of current conditions could be shaped “within the next one or two days.”
BTC is currently not far from $35,500, and if it surpasses $36,000, investor appetite could revive. However, if the resistance continues to be challenging, it could support the selling motivation of investors waiting in profit.
<h2 style="text-align: justify" id="avalanche-avax-analysis">Avalanche (AVAX) Analysis</h2>
While BTC raises doubts about the rise, AVAX Coin has surpassed $13 again. We mentioned a short time ago that BTC’s new resistance test would bring AVAX to this level. If BTC continues to stay above $35,200, AVAX Coin’s price can continue its weak but stable rise.
<img decoding="async" class="size-full wp-image-274754 aligncenter" src="https://coin-turk.com/wp-content/uploads/2023/11/AVAXUSDT_2023-11-08_21-14-08.png" alt="" width="1814" height="847">
Currently, closings above $12.7 can ensure the continuation of the rise. For a strong recovery, we need to see a daily close above $13.43. In this scenario, the target could be the $17.6-$18 range after the $14.6 and $15 range. Continue Reading: <a href="https://en.coin-turk.com/will-bitcoin-btc-fall-analysis-of-bitcoin-and-avalanche-avax-prices/" data-wpel-link="internal" rel="noopener noreferrer nofollow">https://en.coin-turk.com/will-bitcoin-btc-fall-analysis-of-bitcoin-and-avalanche-avax-prices/</a>

Will Bitcoin (BTC) Fall? Analysis of Bitcoin and Avalanche (AVAX) Prices

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