$BTC
BTC Price Plunge: Will We See a Bounce Back Within 24 Hours?"
Analyzing current market trends and expert insights, our prediction models suggest a potential rebound for BTC within the next 24 hours. Will we witness a surge towards a crucial resistance level, or will bears continue to dominate?
Bitcoin's recent dip has resulted in a significant $500M open interest wipeout. Late longs are getting unsettled, and traders are bracing for increased volatility. The PCE index and US macro data failed to ignite a price upside, leaving BTC exposed to further downside risks.
Michaël van de Poppe predicts increased volatility with the upcoming nonfarm payrolls figures on November 1. Daan Crypto Trades expects market volatility to escalate, while Material Indicators notes whales reducing BTC exposure. The stage is set for a potential price swing.The current support level is crucial, and a bounce back could propel BTC towards a key resistance level. Will bulls regain control, or will bears continue to push the price down?Stay vigilant, traders! Monitor market developments, and adjust your strategies accordingly. Keep an eye on nonfarm payrolls figures (Nov. 1), whale behavior and open interest, and key resistance and support levels.
Share your predictions and analysis in the comments below!
Follow us for timely updates, expert insights, and market analysis.
