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Bitcoin Continues to Face Resistance at $92k

Written By: ChartChamp

November 19, 2024

Since Sunday Bitcoin has attempted 3 breakouts above the $92,000 resistance level. All three times BTC failed to breakout, and the last attempt occurred this morning about 2 hours ago. I think BTC will continue to show bullish momentum into resistance, and we can see an attempted rally towards $100k. There is also support in the light blue zone around $89.9k on the way down.

Traders are anticipating Bitcoin reaching $100k this year. I think there will be a ton of sellers directly below the $100k psychological level so we might not see $100k in 2024.

Bitcoin Breaks Above $92,000

After numerous attempts to break through $92k, Bitcoin has finally formed a breakout. I think BTC trades above $92k for a few days before a selloff headed into Thanksgiving. I still think BTC is likely to form a peak under $100k, but we’ll track the price action and see how things are trending over the next few days.

Follow me on social media: https://linktr.ee/realchartchamp

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