BTC/USD reaches resistances as Bitcoin gains more ground - November 9, 2021

BTC/USD traded higher than the $67,000 resistance today as Bitcoin gains ground. If the bullish momentum continues to rise above $67,000, the upside momentum could resume. To regain upside momentum, buyers must clear $64,000 and $67,000 resistance levels.

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

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Bitcoin is now at $67,626 as of this writing, following the break of the $64,000 resistance. After clearing the initial hurdle of $64,000, buyers have also reclaimed $67,000. Bitcoin will rise above $70,000 if buyers can overcome the resistance of $64,000-67,000. Bullish momentum will reach $85,000 high. If the resistance at $67,000 is not broken, BTC will fall to $64,000 support. BTC/USD will continue to fall below the critical support zone of $58,000 to $64,000 when it is broken. Buyers are also trying to regain the $67,000 resistance level. Bitcoin will rise to the psychological level if buyers succeed.

Zimbabwe will accept Bitcoin as a Tender

Zimbabwe is currently conducting consultations on growing interest in crypto among its citizens, which it considers a potential avenue for growth. The government is open to the idea of regulating the whole sector. To meet the growing demand for legal payments and harness the technology, Zimbabwe's government has begun to consider using Bitcoin. The president's permanent secretary is Colonel Charles Wekwete (retired), who also heads the office.

Permanent secretary said that there are disadvantages to the decentralized ecosystem, including unregistered cross border transfers, money laundering and externalization of money. Illicit cash flows into illegal or illegal actions can also be caused by the system. The permanent secretary stated that authorities are working to create regulations to protect consumers as well as ensure the country's financial security. Zimbabwe has not yet made major policy statements. The government sought input from various sectors.

As Bitcoin gains ground, the Bitcoin bulls have successfully reclaimed and broken through the resistance of $67,000. Bullish momentum must be maintained above $67,000. This will allow it to reach the psychological $70,000 price level. Bitcoin could face resistance at $70,000 as the market approaches the overbought area.

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By: Azeez Mustapha
Title: Bitcoin (BTC) Price Prediction: BTC/USD Reclaims $67k High as Bitcoin Gains More Grounds
Sourced From: insidebitcoins.com/news/bitcoin-btc-price-prediction-btc-usd-reclaims-67k-high-as-bitcoin-gains-more-grounds