Our mission is to help you obtain financial freedom. Checkout Our Youtube Channel Checkout Our Youtube Channel
Blog

Bitcoin Correction Below $91.8K Resistance

Written By: ChartChamp

November 12, 2024

Bitcoin has formed a correction shortly below $91.8k resistance. The rejection occurred just under $90k, and the narrative is that $90k is a psychological level. I think BTC is likely to rebound and rally back up to $91.8k. I think we are seeing a rally headed into Thanksgiving, and we still haven’t reached the $91.8k price target yet so I believe there will be more upside despite this pullback. These are massive price swings, BTC rallied by $9,200 yesterday and this correction is a $5,000 downswing. Altcoins are showing a lot of volatility from these price movements.

BTC formed another rejection at $90k. This time the price was briefly above $90k before a selloff. I think $90k is acting as a key psychological level here. I still have $91.8k as a key resistance target to monitor at the yellow trendline.

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

0 Comments
Inline Feedbacks
View all comments

More ClearValue Insights

Default Thumbnail

CVT Market Sentiment February 2025

The current market environment, with its sharp dump since the recent top in December 2024, looks dire, and many people are in panic mode. Many altcoins are down 70% to 90% from their last highs. However, sentiment on Twitter remains overall balanced. In euphoric market stages, people often forget proper risk management, which becomes painful […]

Read More
Default Thumbnail

Bitcoin Dominance Starts to Trend Down

Bitcoin dominance has hit my key resistance level at the light blue zone, which gives a dominance level of 61.60% to 63.23%. BTC dominance has started to trend down and this is usually when Altcoin season starts. The yellow trendline is a key resistance level for Bitcoin dominance, and we climbed well above resistance here […]

Read More
Default Thumbnail

XLM Approaching $0.687 Resistance

XLM is also trading near a key resistance level around $0.687, and is likely to face some short-term resistance there. XLM and ALGO will benefit from XRP’s rally, and will likely lag behind XRP in the rally. I think XLM will form a bullish breakout from this range, and will rally to new all time […]

Read More
Default Thumbnail

CVT Market Sentiment February 2025

The current market environment, with its sharp dump since the recent top in December 2024, looks dire, and many people are in panic mode. Many altcoins are down 70% to 90% from their last highs. However, sentiment on Twitter remains overall balanced. In euphoric market stages, people often forget proper risk management, which becomes painful […]

Read More
Default Thumbnail

Bitcoin Dominance Starts to Trend Down

Bitcoin dominance has hit my key resistance level at the light blue zone, which gives a dominance level of 61.60% to 63.23%. BTC dominance has started to trend down and this is usually when Altcoin season starts. The yellow trendline is a key resistance level for Bitcoin dominance, and we climbed well above resistance here […]

Read More
Default Thumbnail

XLM Approaching $0.687 Resistance

XLM is also trading near a key resistance level around $0.687, and is likely to face some short-term resistance there. XLM and ALGO will benefit from XRP’s rally, and will likely lag behind XRP in the rally. I think XLM will form a bullish breakout from this range, and will rally to new all time […]

Read More