BTC TOP 3
BIG BITCOIN MOVE COMING up
Is Plan B’s prediction feasible?
Most analysts and traders have found Bitcoin’s performance this week quite boring. As the rising influencer/trader/investor TheMoonCarl said in his recent vlog, “BTC is quite neutral right now, it’s not having a clear uptrend or downtrend; just waiting either to break the resistance in $63k or break the support in $59k so we just need to wait what will be the next action.”
Crypto Michael also thinks the same. In his channel, he talked about how Bitcoin is still in a calm range-bound structure, just chopping sideways. He also added, “to get a new ATH, we really need to break the crucial level around $64k”.
The $60k level is a very important support level to hold, however, preferably, we don’t want to see another retest of support in this area. Instead, the $61k-$61.5k range might be a good level to get a retest before bouncing back up to $64k.
In a nutshell, BTC is starting to look like we’rs,e about to have further upside momentum. However, if we go back to the $61k level, it’s also likely to go further down to $57k, which we don’t really like to happen.
The resistance zone is still at the $64k level. If this corrects, by Fibonacci extension, we can target $72.5k. And If we flip $73k, we might see a continuation all the way towards $90k.
However, technically, Crypto Michael thought it’d be harder to reach $98k this month as opposed to Plan B’s prediction.
But what does Plan B thinks about this? In his recent tweet, he defended his case.
Some people think Nov close $98K is too big a jump. It is +60% from current level. Yes that is a big jump. But #bitcoin did this many times before:— PlanB (@100trillionUSD) November 5, 2021
May 2019 +62%
Aug 2017 +66%
May 2017 +66%
Nov 2013 +451%
Oct 2013 +61%
Mar 2013 +181%
Feb 2013 +63% etc pic.twitter.com/1VAmwxAYox
One crypto influencer, Crypto Zombie, does think Bitcoin is currently in a ‘calm before the storm’ situation. He also discussed further in his vlog how Bitcoin can have its next big move in about 3-5 days. Could this be it?
How about you, what do you think about this? Are we going to hit $98k this month or not? Comment down below.
MORE GOV’T OFFICIALS SAYING YES TO BITCOIN
After Miami’s Mayor Francis Suarez declared he wants to receive his paycheck “100% in Bitcoin”, another mayor has expressed the same intent recently.
The incoming New York City Mayor Eric Adams vows to take his first 3 paychecks in Bitcoin. This is good news, right?
Well, Ivan on Tech thinks so too. He believes this would open up big possibility to having a lot of investors in crypto soon in NYC.
HOW BULLISH CAN ETHEREUM GO BEFORE A CORRECTION?
The Moon pointed out ETH to be forming a massive rising wedge. Although technically, rising wedges are bearish patterns and tend to break down, in a strong uptrend, it can be invalidated.
Crypto Michael discussed a possible scenario for Ethereum: “ETH is still consolidating right now and we might get a corrective move soon; might be a retest of the all-time high from may ($4.4k), even down to $4k, then a consolidative period before it breaks up again.”
Have you been taking profits? If so, maybe it’s a good time you think of doing so.
DISCLAIMER: THIS IS NOT FINANCIAL ADVICE. PLEASE DO YOUR OWN RESEARCH FIRST.
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Elisa is our Head of Market Analysis at Rocket Crypto X
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