BTC just surpassed its bearish move cripling the short sellers and making its way up towards the bullish side at the price point of 36000. This area is of resistance where the market has the potential to mark down for a retracement. Once this happens, we are awaiting for the market to stand at the support level from where we can buy the crypto and continue its course. Market is in a range and the buying level is at 33400. Market is currently ranging within the bullish momentum.

The ascending trendline is going to be in confluence with the support level once its tested and it will give us a catalyst for the market upmark.

There is no retracement level on this pair.

EMA 50 is bullish and the market may retest it at the support level. It will make a mark up along with other technical parameters of the price action analysis.

RSI is at 51. It needs to be neutralized at the level of 50 in order to align with the technical factors.

Bitcoin to shoot up

Nov 05 2023