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Bitcoin (BTCUSD) Sellers Are Holding Back

Johnathon Fox
11/14/2024 | UPDATED ON: 11/14/2024

Bitcoin (BTCUSD) Price Forecast: November 14

Today, Bitcoin sellers are holding back following the price surge to its new all-time high of $89,993.69. The BTCUSD price is skyrocketing and also looks good for long at its recent hike. The coin’s price might continue its bullish run, and if the bulls can break through the $89,993.69 current price level, the price may rise much further. In that case, we should anticipate strong upward momentum up to the upper resistance level of $100,000 and beyond as the crypto market approaches a milestone.

Key Levels:
Resistance Levels: $87000.00, $88000.00, $89000.00
Support Levels: $58,000.00, $57,000.00, $56,000.00

BTC (USD) Long-term Trend: Bullish (Daily Chart)

Bitcoin sellers are holding back as the coin price surges to an all-time high of $89,000, exhibiting remarkable growth in its long-term outlook. The price is strongly trading in a bullish trend and looks good for a long.
Bitcoin (BTCUSD) Sellers Are Holding Back
The pressure from the bulls with a long bullish candle to the $80,227 supply value in the previous session has sustained the price of Bitcoin above the supply trend levels in its recent high.

Today’s daily chart shows that sellers are holding back, and a broader recovery is happening as the BTCUSD price reaches an all-time high of $89,993.69 upper resistance level at the time of this article.

Given the outlook, a bullish breakout confirmation reflecting the increased market sentiment will occur if the bulls move higher and close above the mentioned supply level.

Meanwhile, Bitcoin is pointing up on the daily stochastic, suggesting that sellers may continue holding back. In light of this, the upbeat trend could be high at a $100,000 value soon in its long-term outlook.

BTC (USD) Medium-term Trend: Bullish (4H Chart)

BTCUSD on the medium chart indicates sellers are holding back as the bulls continue to drive the coin price up north at the upper resistance level. The coin is trading above level $80,000 above the resistance trend levels.
Bitcoin (BTCUSD) Sellers Are Holding Back
Today, the Bitcoin price rose significantly to a new all-time high of $89,993.69 above the resistance trend lines as the 4-hourly chart begins, igniting investors’ interest and altcoin growth.

Hence, the Bitcoin market suggests that sellers are holding back with more upside possibilities as indicated by the daily stochastic pointing in an upward direction.

We can expect more gains and strength from the coin as the crypto looks good for a long while sellers are holding back. As a result, the BTCUSD pair may surge to reach the $100,000 resistance level in the days ahead, as sellers are holding back for bulls to keep dominating in its medium-term perspective.

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About Johnathon Fox

Johnathon is a Forex and Futures trader with over ten years trading experience who also acts as a mentor and coach to thousands and has written for some of the biggest finance and trading sites in the world.

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