Bitcoin Price Chart Keeps Trading Sideways But November Could Offer Reprieve

A quick, insightful bitcoin price analysis from top crypocurrency experts from around the industry. Will the The Moveᵀᴹ happening come to life or will the BTC/USD exchange rate value dip down to low $7,000 range.

After a lackluster weekend, Bitcoin is seeing greens. Up 2.66% in the past 24 hours, BTC has been trading at $8,212, as per Coincodex.

However, the flagship cryptocurrency is still trading in a tight range that it has been oscillating in since late September. As such, volatility has dropped less than 2%.

“Who said bitcoin was volatile? Bitcoin realized volatility drifting back towards historical lows – moved < 2% daily over the last 10 days,”

stated Skew markets.

As the leading cryptocurrency climbs, altcoins took off as well with Bitcoin SV (14.85%), Chainlink (10.96%), and Bitcoin Cash (5.68%) in the lead.

Source: Coin360

Trading volume, however, is still low at $316.5 million on top ten exchanges with real volume, though it has risen from below $200 million last week.

Bitcoin to continue sideways before taking a hit

Despite this slight uptick in BTC price, the chart is still looking “shitty”, according to analyst Don Alt.

These few and far between upward movements are actually no surprise as in October we have been seeing Bitcoin losing its steam as we reach the weekend, only to register an uptick moving in a new week. But these price rises haven’t been sustainable and BTC ends up right where it started.

Bitcoin, DonAlt says hasn’t closed above $8,750, a level the digital asset traded around on October 11 and until it starts reclaiming these levels instead of getting rejected by them, we can't be bullish.

Market analyst Benjamin Blunts is also expecting Bitcoin to continue the same sideways trading well into November before it takes a drop to $7,400.

Given that Q4 has been historically a good quarter for the digital asset, with 2015 (82.40%), 2016 (58.06), and 2017 (226.28%) registering some of the greenest quarters, a surge could be expected.

October, however, tends to be a red one if September ended up with losses. And last month, we went below $7,600.

“Max pain imo is sideways into the monthly close, proper breakout 1st week of November. for now, still maintain bearish bias, triangle likely,”

said Blunts.

In the short term, however, BTC/USD is expected to continue to “push up,” and as a result, trader Credible Crypto expects further downside on the BTC pairings.

Bitcoin (BTC) Live Price

1 BTC/USD =$13,471.9381 change ~ 1.52%

Coin Market Cap

$249.36 Billion

24 Hour Volume

$6.03 Billion

24 Hour VWAP

$13.33 K

24 Hour Change

$205.0156

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

AnTy
AnTy
AnTy has been involved in the crypto space full-time for over two years now. Before her blockchain beginnings, she worked with the NGO, Doctor Without Borders as a fundraiser and since then exploring, reading, and creating for different industry segments.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

LEAVE A REPLY

Please enter your comment!
Please enter your name here

3,511FansLike
2,795FollowersFollow
4,273FollowersFollow

Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today