The BTC price today delights the bulls with growth, and even too much - a new gap has appeared on the CME

The BTC price today delights the bulls with growth, and even too much - a new gap has appeared on the CME. This doesn't happen often on weekdays. This gap, however, is only on the two-hour timeframe, minimal and already partially closed. The range of 67,675-67,745$ remains. But, considering the election days in the States and the Federal Reserve's decision on the interest rate on November 7, it shouldn't be dismissed.

Signals of a potential low on the 12-hour timeframe provide a bounce. And for now, this can be interpreted as a successful retest of the breakout of the descending trendline from the ATH of March 14.

BUT we do not dismiss our expectations for a test of the volume and mirror level of 65,892$ and the approaching EMA of the 50-day timeframe. For sure, the price won't break through all three (!) important resistances for now:

1. Volume level of 69,740$. Breaking through the volume/mirror/psychological level of 69,000$ is also important, but not in a situation where this is just one of the resistances.

2. Descending trendline from the high of October 29. Currently around 70,353$.

3 (and very important). Ascending trendline from October 10, from which the price has already received a bounce twice. If it doesn't break through on the third attempt, it will go to update the low of 67,059$.

According to our indicator, the price is in a stable uptrend on the hourly timeframe, with basic targets of 69,094$, 69,569$, 70,043$. We are monitoring the 30-minute and hourly timeframes; if there is a return to a stable downtrend there, it will practically guarantee a move below the low of 67,059$ for us.

On the daily timeframe, the descending candle structure remains, but it won't last long. Remember, we expect a decline until November 7-9. However, of course, the highs of the Volatility Index of the #BTC price and all the important events of this week may introduce adjustments. The Volatility Index, having broken our reversal signal, seems to be aiming for the EMA of the 200-day timeframe, at the level of 6.44, which is significantly higher than the current one. Be ready for sharp movements and do not overestimate risks.