Bitcoin (BTC) Price Prediction for November 1

Cover image via U.Today

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Most coins are trading in the red zone, according to CoinMarketCap.

Top coins by CoinMarketCap 

BTC/USD

The rate of Bitcoin (BTC) has declined by 1.56% over the last 24 hours.

Image by TradingView

On the hourly chart, the price of BTC has broken the local resistance of $70,370. If the growth continues, there is a chance to see a test of the $72,000 zone by tomorrow.

Image by TradingView

On the daily time frame, buyers are trying to seize the initiative after yesterday's bearish closure. If their pressure continues, one can expect a further upward move to the resistance of $73,794 shortly.

Image by TradingView

From the midterm point of view, one should wait until the weekly candle closes. 

If it happens near the resistance and with no long wick, the accumulated energy might be enough for a breakout, followed by a test of the $75,000 mark.

Bitcoin is trading at $71,432 at press time.