Bitcoin recovered above $80,000 on November 4 after briefly falling below $76,000 following the US midterm election results.
However, the recovery still needs confirmation.
Technical levels to watch:
* Resistance: $81,300–$82,000.
* Next resistance: $84,800.
* Major support: $77,000–$75,000.
* Deeper support: $73,200.
ETF outflows remain a concern. US spot Bitcoin ETFs recorded approximately $1.16 billion in outflows across three sessions.
My perspective: A recovery without renewed spot demand could become another temporary bounce. I want to see Bitcoin reclaim $81,300 and sustain that level before becoming more confident.
#bitcoin #BTC #CryptoAnalysis
However, the recovery still needs confirmation.
Technical levels to watch:
* Resistance: $81,300–$82,000.
* Next resistance: $84,800.
* Major support: $77,000–$75,000.
* Deeper support: $73,200.
ETF outflows remain a concern. US spot Bitcoin ETFs recorded approximately $1.16 billion in outflows across three sessions.
My perspective: A recovery without renewed spot demand could become another temporary bounce. I want to see Bitcoin reclaim $81,300 and sustain that level before becoming more confident.
#bitcoin #BTC #CryptoAnalysis