Bitcoin At Risk Of Deeper Correction – Could A $65,000 Retest Be Imminent?

Quick Summary:

Bitcoin‘s recent price action has sent ripples through the cryptocurrency market, raising concerns among investors as the leading digital asset undergoes a significant correction.

After an impressive rally, the focus now shifts to whether Bitcoin can maintain its upward momentum or will face a critical test at the $65,000 support level.

Although it trades above the 100-day SMA, this downtrend signals a weakening bullish strength, indicating that sellers have gained control and are driving the price lower.

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Article Details

Author / Journalist: Godspower Owie

Category: Crypto

Markets: Hungary

Topics: Btcusd Bitcon BTC Composite Trend Oscilator BTCUSDT SMA Simple Moving Average Bitcoin News

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-03 @ 01:00:45 (4 days ago)

News Timezone: GMT +8:00

News Source URL: bitcoinist.com

Language: English

Article Length: 457 words

Reading Time: 3 minutes read

Sentences: 34 lines

Sentence Length: 14 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Bitcoinist

News ID: 23372704

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About Bitcoinist

Main Topics: Crypto

Official Website: bitcoinist.com

Update Frequency: 15 posts per day

Year Established: 2014

Headquarters: Hungary

News Last Updated: 8 hours ago

Coverage Areas: Hungary

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #105

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