Bitcoin

Bitcoin Price to Hit $98K in November! BTC Bulls Charging for Massive Rally!

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Bullish volatility is on the rise, and numerous coins have broken out to new all-time highs as a result of the current bullish momentum. Bulls grabbed control of the price movement after hitting a low of $4,283 in the early morning hours of Nov. 2 and boosted Ethereum price to a new all-time high of $4,523. 

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Following initial selling pressure, the crypto market has had a quiet start to the month. Bitcoin (BTC) is now trading at USD 62,980, up 1.9 percent on the day. The price of Bitcoin was able to break through the $62,500 barrier level against the US Dollar. If cryptocurrencies continue to gain traction in the short term, BTC may correct lower.

Bitcoin Price Analysis:

To bring the first significant resistance levels at $64,806 and $65,000 into play, Bitcoin would have to prevent a collapse through the pivot at $62,734.

However, for Bitcoin to break out from its morning high of $63,565.0, it will need support from the rest of the market. 

If a crypto rally does not last long, the first significant hurdle and resistance at $65,000 will likely cap any further gains. 

Before any reversal, Bitcoin might hit resistance at $68,000 in the event of another extended gain. $66,364 is the second significant barrier level.

If the price falls below the pivot at $62,734, the first significant support level at $61,176 will be tested. BTC Price should avoid falling below $60,000 unless there is a sustained sell-off during the afternoon. $59,104 is the second significant support level. 

Bitcoin has increased by more than 50% in the last month and has increased by 450 percent in the last year. Analysts have boosted their expectations for the asset as a result of its performance, believing it may hit $100,000 by the end of the year.

Also Read : Bitcoin Price Quashes Through $63K And Ethereum Price Bangs On Above $4400, What’s Next?

PlanB’s S2F model sends the Bitcoin on a Moon trip

PlanB to nail down its forecast for November at USD 98,000. Hodlers will have to wait a little longer for the $100k but not too long either. For December, PlanB is forecasting an increase to 135,000 US dollars.

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Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Delma Wilson

Delma is a B2B Content Marketer, Consultant, Blogger in the field of Blockchain, and Cryptocurrency. In her spare time, she loves to blog, play badminton and watch out ted talks. She likes pets and shares her free time with NGO.

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