Bears are dominating on the last working day of the week, according to CoinStats.
Top coins by CoinStatsBTC/USD
The price of Bitcoin (BTC) has declined by 1.18% over the last 24 hours.
Image by TradingViewOn the hourly chart, the rate of BTC is in the middle of the local channel, between the support of $99,192 and the resistance of $102,463.
As most of the daily ATR has passed, there are low chances of seeing sharp moves by the end of the day.
Image by TradingViewOn the longer time frame, the picture is also bearish. If the breakout of the support of $98,898 happens, the correction may continue to the $96,000-$98,000 zone until the end of the week.
Image by TradingViewFrom the midterm point of view, one should focus on the weekly candle’s closure in terms of the $100,426 level. If the bar closes below that mark, traders may see an ongoing dump to the $90,000-$95,000 area.
Bitcoin is trading at $100,611 at press time.
Source: https://u.today/bitcoin-btc-price-analysis-for-november-7
