bullish

Lido DAO

Bitcoin

Resistance

Rise

<p><a href="https://captainaltcoin.com/bitcoin-btc-price-breaks-new-ath-why-is-the-crypto-market-up-today/" target="_blank" rel="noopener noreferrer nofollow">The Bitcoin (BTC) market</a> has been of interest as prominent analyst Ali Charts observed a buy signal on BTC’s hourly chart using the TD Sequential indicator. This signal suggests that BTC may be poised for a bullish movement if certain support levels hold.&nbsp;</p>
<p>The expert has identified BTC’s support at $74,500. If maintained, it could propel a move toward the $76k resistance level.</p>
<p>The TD Sequential, known for identifying trend reversals, flashed a green “1” on BTC’s hourly chart, often indicating the start of a bullish phase. This signal, appearing after a recent downtrend, has caught the attention of traders anticipating a possible price reversal.&nbsp;</p>
<p>Should BTC sustain its support at $74,500, the likelihood of a rebound becomes stronger, potentially drawing more buyers into the market.</p>
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   <p lang="en" dir="ltr">The TD Sequential has flashed a buy signal on the <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Bitcoin</a> <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$BTC</a> hourly chart! If the $74,500 support holds, we could see a rebound toward $76,000. <a href="https://t.co/Y09K2xdd7a" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/Y09K2xdd7a</a></p>— Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1854436938079441097?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">November 7, 2024</a>
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<h3 class="wp-block-heading" id="strong-key-fibonacci-levels-offer-support-and-resistance-strong"><strong>Key Fibonacci Levels Offer Support and Resistance</strong></h3>
<p>BTC’s price movement is closely aligned with several Fibonacci retracement levels, which are widely recognized as support and resistance markers.&nbsp;</p>
<p>The 0.236 level, situated at $74,947, has emerged as an initial support, with BTC trading slightly above this threshold at $75,011. Should the momentum continue, BTC will encounter resistance at subsequent Fibonacci levels, namely:</p>
<ul class="wp-block-list">
 <li>0.382 level at $75,238</li>
 <li>0.5 level at $75,473</li>
 <li>0.618 level at $75,710</li>
 <li>0.786 level at $76,048, a level near the target highlighted in Ali Charts’ tweet.</li>
</ul>
<p>Each of these levels represents potential turning points, with the $76,000 mark being a notable hurdle that could either cap or extend <a href="https://www.binance.com/fr-AF/square/post/2024-11-07-bitcoin-s-potential-growth-amid-market-transition-15910615414738" target="_blank" rel="noopener noreferrer nofollow">BTC’s upward movement.</a></p>
<p><strong><em>Read also: </em></strong><a href="https://captainaltcoin.com/why-is-lido-dao-pumping-expert-outlines-ldo-price-path-to-3/" target="_blank" rel="noopener noreferrer nofollow"><strong><em>Why Is Lido DAO Pumping? Expert Outlines LDO Price Path to $3</em></strong><br></a></p>
<h3 class="wp-block-heading" id="strong-higher-resistance-targets-beyond-76-000-strong"><strong>Higher Resistance Targets: Beyond $76,000</strong></h3>
<p>If BTC manages to breach the $76,000 resistance level, further gains may be achievable. The Fibonacci extensions suggest higher targets at:</p>
<ul class="wp-block-list">
 <li>1.0 level at $76,481</li>
 <li>1.272 level at $77,035</li>
 <li>1.414 level at $77,325</li>
</ul>
<p>These levels indicate areas where BTC may face selling pressure if buyers push beyond $76,000. Such resistance targets will likely be influential in determining BTC’s price trajectory should <a href="https://www.ft.com/content/bdc3311d-3a29-4a3a-82e7-d646bc065dce" target="_blank" rel="noopener noreferrer nofollow">bullish momentum persist</a>.</p>
<h3 class="wp-block-heading" id="strong-support-at-74-500-a-key-level-to-watch-strong"><strong>Support at $74,500: A Key Level to Watch</strong></h3>
<p>The support level of $74,500, as noted by Ali Charts, is pivotal.&nbsp;</p>
<p>Maintaining this level is essential to validating the buy signal and ensuring a stable base for potential upward movement.&nbsp; A breach of this support could signal a downturn, disrupting the bullish setup projected by the TD Sequential indicator.&nbsp;</p>
<p>Per data from CoinGecko at press time, <a href="https://www.coingecko.com/en/coins/bitcoin" target="_blank" rel="noopener noreferrer nofollow">BTC is trading at $74,732.64</a> with a daily volume of $73.78 billion, marking a 1.20% increase over the last day and a 3.73% rise in the past week.</p>
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<p>The post <a href="https://captainaltcoin.com/bitcoin-chart-prints-buy-signal-will-btc-price-rise-further/" rel="noopener noreferrer nofollow">Bitcoin Chart Prints Buy Signal: Will BTC Price Rise Further?</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Bitcoin Chart Prints Buy Signal: Will BTC Price Rise Further?

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