Coinbry

  • Market Cap: $2,467,784,656,242.82
  • 24h Vol: $148,817,692,287.46
  • BTC Dominance: 52.29%
Analysis of Prices on November 3rd: Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), Ripple (XRP), Solana (SOL), Cardano (ADA), Dogecoin (DOGE), TON Crystal (TON), Chainlink (LINK), and Polygon (MATIC)

Analysis of Prices on November 3rd: Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), Ripple (XRP), Solana (SOL), Cardano (ADA), Dogecoin (DOGE), TON Crystal (TON), Chainlink (LINK), and Polygon (MATIC)

Bitcoin price is losing its upward momentum, but data suggests traders are gearing up to buy any significant dips. The recent surge above $35,000 may have excited aggressive bulls, but the price quickly fell back below that level, indicating a potential fake breakout. However, a mild correction during an uptrend is generally seen as a healthy sign, shaking out weak hands. Traders are waiting for the price to find a bottom before buying, and strong support levels could be potential buying opportunities. MicroStrategy founder Michael Saylor believes the current level is an ideal entry point into Bitcoin for those with a long-term time horizon. Bitcoin’s weakness has also affected altcoins, but important support levels could signal the end of the decline.

Key Points:

– Bitcoin’s surge above $35,000 may have been a fake breakout

– A mild correction during an uptrend is healthy

– Traders are waiting for the price to find a bottom before buying

– Strong support levels could be potential buying opportunities

– MicroStrategy founder believes the current level is a good entry point into Bitcoin

– Bitcoin’s weakness has affected altcoins

– Important support levels could signal the end of the decline.

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