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Bitcoin (BTC) Price Prediction for November 6

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Wed, 6/11/2024 - 15:39
Bitcoin (BTC) Price Prediction for November 6
Cover image via U.Today

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

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Almost all of the major coins are in the green zone today, according to CoinMarketCap.

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Top coins by CoinMarketCap

BTC/USD

The rate of Bitcoin (BTC) set a new all-time high today, rising by more than 7%.

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Image by TradingView

Despite today's sharp growth, the price of BTC keeps looking bullish. If the breakout of the $75,080 level happens, the upward move can continue to $76,000 and above.

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Image by TradingView

On the bigger time frame, one should pay attention to the daily bar closure in terms of the $73,600 level. 

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If it happens above it, there is a chance to see a test of new peaks until the end of the week.

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Image by TradingView

From the midterm point of view, the picture is quite similar. If the closure above $73,794 happens and the weekly bar closes with no long wick, the accumulated energy might be enough for a move to the $80,000 range.

Bitcoin is trading at $73,777 at press time.

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