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Bitcoin Likely to Retest $75k

Written By: ChartChamp

November 8, 2024

Bitcoin has rallied by $10,000 between Monday and Thursday. I think a correction is needed, and BTC looks like it is starting to cool off. I have the yellow trendline as a key price target with a price target of $75k. This yellow trendline is a key resistance level, and over the next few days it will be important to see if BTC manages to flip $75k into support and hold above this level. For now BTC is likely to trend down, and I would monitor to see if the price can stay above $75k throughout the rest of the week.

Bitcoin is still strong for now, has crossed above $77k. The number to monitor is $75k. BTC price swings are thousands of dollars in movement. So far $77k has been the weekly highs.

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