BITCOIN MONTHLY ANALYSIS
After a strong 43% gain in Q3, Bitcoin cooled down in October, closing the month down 7.3%.
But Bitcoin wasn't the only one falling. The Nasdaq 100 and Gold also dropped nearly 7%, while oil prices surged above $117.
Key Levels to Watch:
Support:
-Weekly MA 50: $75,770
-Monthly MA 50: $64,580
Resistance: $87,500
My Take:
I still see the bigger trend as positive, but don't expect Bitcoin to go up straight. A 20% drop is normal during a Bitcoin bull market.
If BTC drops between $65K and $75K, I'll be watching for a chance to buy more and hold for the next 3 years.
There's also a pattern worth watching. Bitcoin has often struggled around US midterm elections.
But sometimes, the best time to buy is when the market looks scary and everyone is afraid to buy.
$BTC
#BinanceUpdatesProofofReservesAddresses
#BinanceSAFUFundTransferCompleted7499BTC
After a strong 43% gain in Q3, Bitcoin cooled down in October, closing the month down 7.3%.
But Bitcoin wasn't the only one falling. The Nasdaq 100 and Gold also dropped nearly 7%, while oil prices surged above $117.
Key Levels to Watch:
Support:
-Weekly MA 50: $75,770
-Monthly MA 50: $64,580
Resistance: $87,500
My Take:
I still see the bigger trend as positive, but don't expect Bitcoin to go up straight. A 20% drop is normal during a Bitcoin bull market.
If BTC drops between $65K and $75K, I'll be watching for a chance to buy more and hold for the next 3 years.
There's also a pattern worth watching. Bitcoin has often struggled around US midterm elections.
But sometimes, the best time to buy is when the market looks scary and everyone is afraid to buy.
$BTC
#BinanceUpdatesProofofReservesAddresses
#BinanceSAFUFundTransferCompleted7499BTC
