Bitcoin – Market Updates

In our November 12 forecast, we noted that momentum could fade quickly if price formed new lower highs and fell back below the 107K resistance. The scenario came true: Bitcoin broke the 102K support level and slid to the 89K area.

From here, if the current lows hold, the next recovery area is 92-93K. Buyers should enter the market as a break below this level increases the risk of a fall towards the 84K-82K area.

If the price stabilizes and establishes a base here, the upside barriers to observe are 96-97K, followed by 100K and 107K.

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