BTC To break $64.9k And New ATH? Or a Retest of EMA100?
Currently sitting around 64.3k, the position is neutral for both Bulls and Bears who are watching for a bigger volume move in their direction for confirmation. Our next resistance is 64.9k which if broken and a candle closes above we could move up to test ATH again. Current sentiment is slightly more negative than positive, which is not uncommon on a weekend.
A move down could see us re-test the EMA100, which so far a candle has not closed below since our move up last week. If this is broken, a retest of $60-61k comes next where there is very strong support.
On Friday afternoon, The SEC rejected the VanEck Bitcoin Spot ETF which caused a dip in the marketing. We have another decision, on the XBTF ETF, this Tuesday (16th November.) Because of the previous rejection, all eyes are on this one. We can expect to see a strong move in the market in either direction depending on the decision.
A move down could see us re-test the EMA100, which so far a candle has not closed below since our move up last week. If this is broken, a retest of $60-61k comes next where there is very strong support.
On Friday afternoon, The SEC rejected the VanEck Bitcoin Spot ETF which caused a dip in the marketing. We have another decision, on the XBTF ETF, this Tuesday (16th November.) Because of the previous rejection, all eyes are on this one. We can expect to see a strong move in the market in either direction depending on the decision.
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