BTC/USD Fluctuates between $59k-$64k as Bitcoin Revises $60k - November 4, 2020

BTC/USD fell again on November 2nd after a rejection of the $64,000 high. Bitcoin has retreated to $60K. It will be the second consecutive time that the bulls failed to keep BTC prices at $64,000. As bulls bought the dips, the failure of the bulls led to a sharp fall to $60,175 below the $64,000 mark. Bitcoin will regain its upside momentum once the resistance levels of $64,000 or $67,000 are broken.

Resistance Levels: $60,000 - $65,000 - $70,000 Support Levels : $50,000 - $45,000 – $40,000

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Bitcoin fell to $60,175 after the rejection of the $64,000 peak. Bulls are continuing to buy the dips. The previous price action indicated that buyers wanted to maintain the price above $64,000 and break the next resistance at $67,000. This will indicate the resumption in upside momentum. This will allow buyers to push Bitcoin higher than the psychological $70,000 price level. Today, the BTC price climbed above the 21-day SMA. It then consolidated above it. As long as the 21 day support holds, buyers will attempt to break the previous high. If the support does not hold, the market may fall and resume a range-bound movement within the price range.

El Salvador plans to build 20 "Bitcoin Schools" from Bitcoin Trust

President Nayib Bukele stated that the profits from the state's Bitcoin Trust account, or "surplus", will be used to construct 20 schools. The president's press secretary tweeted that "when this project was initiated, we hadn't made as much money [in FIDEBITCOIN] as we have now. We have decided to build the first 20 Bitcoin Schools. It was reported that these schools will help locals learn cryptocurrency and will be part of the 400 schools in the "My New School" program.

Bitcoin trades in a narrow range of $59,800 to $64,000, as Bitcoin revisits $60K. After its rejection at $67,000, the cryptocurrency continues to fall. It is now below its moving averages. Price action indicates bullish candlesticks for an upward move. The $60,000 support is indicated by a long candlesticks tail. This candlestick shows that there is strong buying pressure at the moment.

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By: Azeez Mustapha
Title: Bitcoin (BTC) Price Prediction: BTC/USD Is in a Range as Bitcoin Revisits $60k
Sourced From: insidebitcoins.com/news/bitcoin-btc-price-prediction-btc-usd-is-in-a-range-as-bitcoin-revisits-60k