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Considering possible scenarios for a Bitcoin break-out in November
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Bitcoin continues to build exceedingly high expectations for November. Heading into a new month on the back of a 30% Return on Investment seen in October, the crypto community seems to be eagerly awaiting the possibility of $100K soon. However, a bird’s eye view of BTC’s 4-hour chart indicated a period of distress.
Over the past week, BTC has rubbed off some of its value within its down-channel. BTC’s price fell to a 2 week low on 27 October and although some gains have entered the market, BTC’s down-channel was still a concerning factor.
Source: BTC/USD, TradingView
Consecutive lower highs and lower lows have gripped Bitcoin’s market since record levels were seen at $67,000. The resulting down-channel identified a correctional period after a
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