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Bitcoin retests support with trader forecasting $55K BTC price dip
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Bitcoin (BTC) denied bulls their big break on Nov. 4 as sideways action dragged the market ever closer to $60,000.
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD back below $62,000 at 8am UTC.
The pair saw a difficult 24 hours after hitting local highs above $64,000, finally bouncing at $60,000 in a brief but significant dip.
The plebs continue to stack.
While some suggested the price action was a gift to investors looking to add to their BTC stash before further upside, analysts were more focused on longer timeframes.
"BTC retest has been successful for three weeks in a row thus far," Rekt Capital noted about the strength of the $60,000 mark.
"It's unfolding exactly as I expected: BTC completed its bounce to 64k and ETH's
Read more on cointelegraph.comAbout this in other media
Bitcoin falls to a 1-month low after a 6% dive drops BTC price to $56.6K cointelegraph.com /3 years ago
Bitcoin toys with $60K as crucial price support level sees multiple retests cointelegraph.com /3 years ago
3 reasons why traders want to buy the Bitcoin price dip to $58.5K cointelegraph.com /3 years ago
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