What Do Technical Analysts Say About Bitcoin After The Election? Failing To Hit $100,000 In The Next Months Is ‘Hard To Imagine’
Posted On November 6, 2024
$68,000 has been identified as a critical support level for Bitcoin (CRYPTO: BTC), following its surge to a new all-time high on election night.
What Happened: In a comprehensive breakdown of Bitcoin’s performance over the past seven months, crypto trader Scient identified two similar structures within this period: a bearish and a bullish structure.
He noted that the first, bearish range formed a high at $73,800 and lows at $59,000. After sweeping the lows at $59,000, it failed to reclaim the demand at this level, resulting in a breakdown and formation of a new low at $53,300.
The second range, …
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