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Bitcoin: An uptrend will start as soon as the market rises above the 21020 level

Bitcoin: An uptrend will start as soon as the market rises above the 21020 level
Anton KolhanovAnton KolhanovAnton Kolhanov

Weekly forecast (October 31 – November 4, 2022)

Uptrend scenario

An uptrend will start as soon, as the market rises above resistance level 21020, which will be followed by moving up to resistance level 21900 and 22799.

Downtrend scenario

The downtrend may be expected to continue, while market is trading below resistance level 21020, which will be followed by reaching support level 19957 and if it keeps on moving down below 19706 level, we may expect the market to reach support level 18125.

BTCUSD

Monthly forecast, November 2022

Uptrend scenario

The uptrend may be expected to continue, while market is trading above support level 19706, which will be followed by reaching resistance level 22799 and if it keeps on moving up above that level, we may expect the market to reach resistance level 25211.

Downtrend scenario

An downtrend will start as soon, as the market drops below support level 19706, which will be followed by moving down to support level 18125 – 17622.

BTCUSD

Author

Anton Kolhanov

Anton Kolhanov

Anton Kolhanov

Anton Kolhanov is a trader and an analyst. He started to study the Forex market in 2003.

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