BTC Market Update
The entry point for Bitcoin's (BTC) current cycle remains unchanged, as the market continues to follow the structural trend observed in recent days. With short-term resistance near $94,000, traders are closely watching for a decisive break.
Cycle Perspective
Once BTC broke above the $95,200 resistance level, a phase of market adjustment began, aligning with expectations for the latter half of November. The critical $100,000 mark is acting as a psychological threshold, with downside targets near $89,600 for a healthy pullback.
Key Levels to Watch
Resistance: $94,000 and $100,000.
Support: $89,600, with a potential entry range between $86,000 and $74,500.
Strategy
For those waiting for an entry point, consider buying in batches between $86,000 and $74,500, with stops around $68,500 to manage risk. This range represents a favorable position within the larger market cycle.
Holding cash and maintaining light positions remains a prudent approach, with opportunities for accumulation likely to arise as BTC navigates these key levels.