Can Bitcoin Drop to $35,000?

Updated

#Bitcoin

As long as it stays above $36,600, it will likely aim to clear the short liquidity at the $38,000 level.

If daily candle closes do not occur above $38,000, it might initiate a downward movement towards the indicated level of $34,950 as shown on the chart.

NFA.

Trade active

The loss of the $36,600 support caused a drop to our expected support without clearing the shorts at $38,000.

As long as it remains above the gray support in the analysis, the target will be $38,500.

NFA.

Note

Bitcoin will certainly aim to advance to $38,000, drawing strength from the gray support zone, especially because we anticipate attracting investors to the market until the ETF announcement on November 17th. In the event of any delay or rejection, we believe they might lower the price.

NFA

Trade active

Bitcoin is moving within the interim support range of $36,600 - $36,800. As long as Bitcoin remains above $36,600, it will likely aim for another upward movement towards the $38,000 level.

NFA.

Trade active

Note

Bitcoin 8.71% ✅

It has made an upward movement of 8.71% from the indicated gray zone support. According to the analysis, we congratulate the winners.

BTC needs to close above the $36,800 level on the 4-hour chart again. If it achieves closings above 36,800, the target will be $38,500.

However, if 36,800 is not reclaimed, the decline will first target the gray support and then drop to the $34,100 level.

NFA.

Note

As long as Bitcoin remains above the $36,800 support, it will want to rise to its target specified in the analysis. However, if Bitcoi closes a 4-hour candle below the $36,800 support, it could move bearish to the $34,100 level.

Note

Somehow it follows the trend movement and rises. If we see weakness in the $37,800$ 39,000 zone, we can consider it as a devilation movement and take scalp short trade.

NFA.

Note

Bitcoin has reached the price target we expected. As long as it stays above the $36,800 level, its target will be $38,900. However, 4-hour candle closes below $36,800 will make the bearish move to the $35,5000 level.

The analysis is over. Congratulations to the assessors.

wagmitraders

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