{"id":13204,"date":"2021-11-04T10:50:31","date_gmt":"2021-11-04T09:50:31","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=13204"},"modified":"2021-11-04T10:50:40","modified_gmt":"2021-11-04T09:50:40","slug":"bitcoin-retests-support-with-a-trader-predicting-a-price-drop-to-55k-btc","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/bitcoin-retests-support-with-a-trader-predicting-a-price-drop-to-55k-btc\/","title":{"rendered":"Bitcoin retests support, with a trader predicting a price drop to $55K BTC"},"content":{"rendered":"\n
As sideways movement dragged the Bitcoin <\/a>market closer to the $65,000 level on Nov. 4, bulls were denied their major break.<\/h5>\n\n\n\n
\"\"<\/figure>\n\n\n\n

At 8 a.m. UTC, data from TradingView showed that the bitcoin\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>\/dollar exchange rate had fallen below $62,000. After achieving local highs of $64,000 in the previous 24 hours, the pair experienced a rough 24 hours before bouncing back to $60,000 in a brief but considerable fall.<\/p>\n\n\n\n

The plebs continue to stack.\u2014 Dylan LeClair (@DylanLeClair_) November 4, 2021<\/p><\/blockquote>\n\n\n\n

While others speculated that the price action was a gift to investors eager to add to their Bitcoin holdings <\/a>before the price continues to rise, analysts were more concerned about longer-term trends.<\/p>\n\n\n\n

“BTC retest has been successful for three weeks in a row thus far,” Rekt Capital noted about the strength of the $60,000 mark.<\/p>\n\n\n\n

“It's unfolding exactly as I expected: BTC <\/a>completed its bounce to 64k and ETH's cycle reached 4600+,”\u00a0\u00a0another analyst Crypto <\/a>Ed, on the other hand, expressed a more cautious outlook on current price movements.<\/p>\n\n\n\n

“Pulling back now, has to be seen if we indeed go that deep. When right, BTC to ~55k and ETH 37-3800.”<\/p><\/blockquote>\n\n\n\n

Despite the distasteful nature of the results, a journey to the $50,000 range has long been on the table \u2014 with Bitcoin still managing to maintain its overall positive trajectory as a result of the development. Altcoins, on the other hand, continued to work together to set new all-time highs, marking a curious divergence from Bitcoin's dismal short-term performance.<\/p>\n\n\n\n

In the cryptocurrency market on Thursday, it was the turn of Ether to drop off from its recent high, while Solana <\/a>rocketed higher to outperform the rest of the top ten cryptocurrencies by market capitalization. Polkadot <\/a>(DOT) also made a comeback following a period of consolidation on Wednesday, reaching $54.55 to set a new high for the company.<\/p>\n","protected":false},"excerpt":{"rendered":"

As sideways movement dragged the Bitcoin market closer to the $65,000 level on Nov. 4, bulls were denied their major break. At 8 a.m. UTC, data from TradingView showed that the bitcoin \/dollar exchange rate had fallen below $62,000. After achieving local highs of $64,000 in the previous 24 hours, the pair experienced a rough […]<\/p>\n","protected":false},"author":13,"featured_media":13209,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83,76],"tags":[152,5332],"class_list":["post-13204","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","category-bitcoin-price","tag-bitcoin","tag-price-drop"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/11\/Bitcoin-retests-support-with-a-trader-predicting-a-price-drop-to-55K-BTC.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/13204","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=13204"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/13204\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/13209"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=13204"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=13204"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=13204"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}