{"id":649903,"date":"2024-10-26T13:00:23","date_gmt":"2024-10-26T13:00:23","guid":{"rendered":"https:\/\/www.wncen.com\/?p=649903"},"modified":"2024-10-25T19:51:00","modified_gmt":"2024-10-25T19:51:00","slug":"bitcoin-could-see-one-last-shakeout-in-november-here-are-the-levels-to-watch","status":"publish","type":"post","link":"https:\/\/www.wncen.com\/news\/bitcoin\/bitcoin-could-see-one-last-shakeout-in-november-here-are-the-levels-to-watch\/","title":{"rendered":"Bitcoin Could See \u2018One Last Shakeout\u2019 In November, Here Are The Levels To Watch"},"content":{"rendered":"

Bitcoin (BTC) has recorded a remarkable surge in the past 14 days, nearing the $70,000 mark earlier this week. However, some market watchers shared their worries about the recent retraces, suggesting the cryptocurrency could face another correction ahead of the US Presidential election.<\/p>\n

Related Reading: Is The Cat Season Here? MEW Hits $1 Billion Market Cap After New ATH<\/a><\/div>\n

Bitcoin To Face Another Shakeout Soon<\/h2>\n

This \u2018Uptober,\u2019 Bitcoin has recorded<\/a> a 12% surge from its opening price, jumping from the $60,000 support level and reclaiming key resistance zones. In the last two weeks, BTC recovered 14% from the early October shakeouts, nearing a retest of the long-awaited $70,000 mark.<\/p>\n

The cryptocurrency faced major resistance after surging above the $69,000 zone, a level not seen since late July. After the unsuccessful retest, Bitcoin\u2019s price faced a 5.3% pullback toward the $65,000-$66,000 range, failing to reclaim the $67,000 mark until Thursday.<\/p>\n

Based on BTC\u2019s recent performance, some analysts consider that the flagship crypto is poised to face another correction in the coming weeks. Crypto analyst Altcoin Sherpa revealed<\/a> he is unsure about where Bitcoin\u2019s \u201cextremely chippy conditions\u201d are headed in the short term.<\/p>\n

Sherpa shared that the cryptocurrency could see one last shakeout \u201csometime in November.\u201d He suggested \u00a0BTC could face another pullback toward the $62,000-$64,000 price range around the time of the US Presidential elections<\/a>, scheduled for November 5.<\/p>\n

However, the analyst believes that Bitcoin will continue its bullish rally after the shakeout. Another market watcher also forecasted another correction for BTC\u2019s near future.<\/p>\n

Analyst Crypto King stated<\/a> that BTC is set to close above $70,000 this week before facing rejection from the key level. Following the rejection, Bitcoin would retrace 8% toward $64,000-$65,000, which could propel altcoins to \u201cstart moving 5-6x from the current position,\u201d according to the analyst.<\/p>\n

Is BTC Set For A Green Weekly Close?<\/h2>\n

Despite the rainy forecast, other investors remain bullish on the flagship crypto. Crypto analyst Moustache set the $67,000-$68,000 range as \u201cinsanely important support levels.\u201d To the analyst, if BTC\u2019s price holds<\/a> its support there, it will hit $70,000 soon.<\/p>\n

After Bitcoin jumped above the $68,000 resistance on Friday morning, Crypto Yapper noted<\/a> that BTC broke out of a weekly bull flag and was \u201cready for an exponential move.” The analyst also asserted that the next horizontal level to break before the $70,000 test is $69,000.<\/p>\n

Related Reading: Web3 Automation Provider Ava Protocol\u2019s Demand Surges 900% Ahead Of Token Launch<\/a><\/div>\n

Nonetheless, he stated that Bitcoin should make a higher high to remain bullish<\/a>. Similarly, Rekt Capital pointed out that BTC\u2019s old downtrend line is supporting, which serves as post-breakout confirmation.<\/p>\n

Per the post, the cryptocurrency would record<\/a> a bullish weekly close above the $66,300 mark. The analyst also highlighted that if BTC closes above the $67,900 zone, It will register a \u201cvery bullish weekly close\u201d ahead of October\u2019s last week.<\/p>\n

At the time of writing, BTC is trading at $67,737, a mild 0.3% increase in the daily timeframe.<\/p>\n

\"Bitcoin,
Bitcoin (BTC) performance in the weekly chart. Source: BTCUSDT on TradingView<\/a><\/figcaption><\/figure>\n
Featured Image from Unsplash.com, Chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Bitcoin (BTC) has recorded a remarkable surge in the past 14 days, nearing the $70,000 mark earlier this week. However, some market watchers shared their worries about the recent retraces, suggesting the cryptocurrency could face another correction ahead of the US Presidential election. Related Reading: Is The Cat Season Here? MEW Hits $1 Billion Market Cap After New ATH Bitcoin To Face Another Shakeout Soon This \u2018Uptober,\u2019 Bitcoin has recorded a 12% surge from its opening price, jumping from the $60,000 support level and reclaiming key resistance zones. In the last two weeks, BTC recovered 14% from the early October shakeouts, nearing a retest of the long-awaited $70,000 mark. The cryptocurrency faced major resistance after surging above the $69,000 zone, a level not seen since late July. After the unsuccessful retest, Bitcoin\u2019s price faced a 5.3% pullback toward the $65,000-$66,000 range, failing to reclaim the $67,000 mark until Thursday. Based on BTC\u2019s recent performance, some analysts consider that the flagship crypto is poised to face another correction in the coming weeks. Crypto analyst Altcoin Sherpa revealed he is unsure about where Bitcoin\u2019s \u201cextremely chippy conditions\u201d are headed in the short term. Sherpa shared that the cryptocurrency could see one last shakeout \u201csometime in November.\u201d He suggested \u00a0BTC could face another pullback toward the $62,000-$64,000 price range around the time of the US Presidential elections, scheduled for November 5. However, the analyst believes that Bitcoin will continue its bullish rally after the shakeout. Another market watcher also forecasted another correction for BTC\u2019s near future. Analyst Crypto King stated that BTC is set to close above $70,000 this week before facing rejection from the key level. Following the rejection, Bitcoin would retrace 8% toward $64,000-$65,000, which could propel altcoins to \u201cstart moving 5-6x from the current position,\u201d according to the analyst. Is BTC Set For A Green Weekly Close? Despite the rainy forecast, other investors remain bullish on the flagship crypto. Crypto analyst Moustache set the $67,000-$68,000 range as \u201cinsanely important support levels.\u201d To the analyst, if BTC\u2019s price holds its support there, it will hit $70,000 soon. After Bitcoin jumped above the $68,000 resistance on Friday morning, Crypto Yapper noted that BTC broke out of a weekly bull flag and was \u201cready for an exponential move.” The analyst also asserted that the next horizontal level to break before the $70,000 test is $69,000. Related Reading: Web3 Automation Provider Ava Protocol\u2019s Demand Surges 900% Ahead Of Token Launch Nonetheless, he stated that Bitcoin should make a higher high to remain bullish. Similarly, Rekt Capital pointed out that BTC\u2019s old downtrend line is supporting, which serves as post-breakout confirmation. Per the post, the cryptocurrency would record a bullish weekly close above the $66,300 mark. The analyst also highlighted that if BTC closes above the $67,900 zone, It will register a \u201cvery bullish weekly close\u201d ahead of October\u2019s last week. At the time of writing, BTC is trading at $67,737, a mild 0.3% increase in the daily timeframe. Featured Image from Unsplash.com, Chart from TradingView.com<\/p>\n","protected":false},"author":614,"featured_media":604954,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651],"tags":[428,11680,84434,679,1119,78790,26263,93167,10923,85288,89756,87108,6369],"class_list":["post-649903","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-bitcoin","tag-bitcoin-bullish","tag-bitcoin-correction","tag-bitcoin-price","tag-btc","tag-btcusdt","tag-crypto-analyst","tag-crypto-investor","tag-crypto-market","tag-crypto-market-crash","tag-crypto-trader","tag-uptober","tag-us-president-elections"],"acf":[],"yoast_head":"\nBitcoin To See \u2018One Last Shakeout\u2019 Soon - Key Levels To Watch<\/title>\n<meta name=\"description\" content=\"Some analysts consider Bitcoin (BTC) is poised to face one last shakeout next month before the bullish rally kickoff.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.wncen.com\/news\/bitcoin\/bitcoin-could-see-one-last-shakeout-in-november-here-are-the-levels-to-watch\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin To See \u2018One Last Shakeout\u2019 Soon - 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Her goal as a writer is to create informative, complete, and easily understandable pieces accessible to those entering the crypto space. After learning about cryptocurrencies in 2019, Rubmar became curious about the world of possibilities the industry offered, quickly learning that financial freedom was at the palm of her hand with the developing technology. From a young age, Rubmar was curious about how languages work, finding special interest in wordplay and the peculiarities of dialects. Her curiosity grew as she became an avid reader in her teenage years. She explored freedom and new words through her favorite books, which shaped her view of the world. Rubmar acquired the necessary skills for in-depth research and analytical thinking at university, where she studied Literature and Linguistics. Her studies have given her a sharp perspective on several topics and allowed her to turn every stone in her investigations. In 2019, she first dipped her toes in the crypto industry when a friend introduced her to Bitcoin and cryptocurrencies, but it wasn\u2019t until 2020 that she started to dive into the depth of the industry. As Rubmar began to understand the mechanics of the crypto sphere, she saw a new world yet to be explored. At the beginning of her crypto voyage, she discovered a new system that allowed her to have control over her finances. As a young adult of the 21st century, Rubmar has faced the challenges of the traditional banking system and the restrictions of fiat money. After the failure of her home country\u2019s economy, the limitations of traditional finances became clear. The bureaucratic, outdated structure made her feel hopeless and powerless amid an aggressive and distorted system created by hyperinflation. However, learning about decentralization and self-custody opened a realm of opportunities. Cryptocurrencies allowed her to experience financial control for the first time and expand her financial education. Moreover, the peculiar nature of the crypto community sparked Rubmar\u2019s curiosity about the other layers of the industry. As a result, she found a particular interest in discovering the diverse perspectives of investors, market watchers, experts, and developers. Her attempts to better understand the crypto space made her realize the strong links of the community with other industries, enriching her perspective of the sector. As someone who spends most of her day online, Rubmar enjoys finding the points where the crypto world meets with her other passions and hobbies \u00ad\u2013or her favorite memes. In her free time, she usually finds joy in different art forms. As a child, she enlisted in every extra-curricular activity in her hometown, including music classes, dancing, jewelry making, and the local chorus. Despite her many attempts to learn different instruments, Rubmar only knows how to play the xylophone, which she played for 7 years in her school\u2019s marching band. She also has a passion for learning new languages and cultures, having set the goal to learn another six languages \u00ad\u2013 currently attempting to learn Italian and Korean. Scrapbooking, paper crafting, and bookbinding are her biggest interests outside of work, constantly taking classes and attending workshops to learn new techniques. The rest of her free time is spent stressing over football matches and transfer market news or feeding cats \u2013hers or stray. 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Her goal as a writer is to create informative, complete, and easily understandable pieces accessible to those entering the crypto space. After learning about cryptocurrencies in 2019, Rubmar became curious about the world of possibilities the industry offered, quickly learning that financial freedom was at the palm of her hand with the developing technology. From a young age, Rubmar was curious about how languages work, finding special interest in wordplay and the peculiarities of dialects. Her curiosity grew as she became an avid reader in her teenage years. She explored freedom and new words through her favorite books, which shaped her view of the world. Rubmar acquired the necessary skills for in-depth research and analytical thinking at university, where she studied Literature and Linguistics. Her studies have given her a sharp perspective on several topics and allowed her to turn every stone in her investigations. In 2019, she first dipped her toes in the crypto industry when a friend introduced her to Bitcoin and cryptocurrencies, but it wasn\u2019t until 2020 that she started to dive into the depth of the industry. As Rubmar began to understand the mechanics of the crypto sphere, she saw a new world yet to be explored. At the beginning of her crypto voyage, she discovered a new system that allowed her to have control over her finances. As a young adult of the 21st century, Rubmar has faced the challenges of the traditional banking system and the restrictions of fiat money. After the failure of her home country\u2019s economy, the limitations of traditional finances became clear. The bureaucratic, outdated structure made her feel hopeless and powerless amid an aggressive and distorted system created by hyperinflation. However, learning about decentralization and self-custody opened a realm of opportunities. Cryptocurrencies allowed her to experience financial control for the first time and expand her financial education. Moreover, the peculiar nature of the crypto community sparked Rubmar\u2019s curiosity about the other layers of the industry. As a result, she found a particular interest in discovering the diverse perspectives of investors, market watchers, experts, and developers. Her attempts to better understand the crypto space made her realize the strong links of the community with other industries, enriching her perspective of the sector. As someone who spends most of her day online, Rubmar enjoys finding the points where the crypto world meets with her other passions and hobbies \u00ad\u2013or her favorite memes. In her free time, she usually finds joy in different art forms. As a child, she enlisted in every extra-curricular activity in her hometown, including music classes, dancing, jewelry making, and the local chorus. Despite her many attempts to learn different instruments, Rubmar only knows how to play the xylophone, which she played for 7 years in her school\u2019s marching band. She also has a passion for learning new languages and cultures, having set the goal to learn another six languages \u00ad\u2013 currently attempting to learn Italian and Korean. Scrapbooking, paper crafting, and bookbinding are her biggest interests outside of work, constantly taking classes and attending workshops to learn new techniques. The rest of her free time is spent stressing over football matches and transfer market news or feeding cats \u2013hers or stray. In summary, Rubmar seeks to present entertaining and educational pieces to be enjoyed by everybody, aiming to report on the latest news and offer a unique perspective while adding a meme or a pun whenever possible.","url":"https:\/\/www.wncen.com\/author\/rubmargarcia\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Could See \u2018One Last Shakeout\u2019 In November, Here Are The Levels To Watch","url":"http:\/\/www.wncen.com\/news\/bitcoin\/bitcoin-could-see-one-last-shakeout-in-november-here-are-the-levels-to-watch\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/www.wncen.com\/news\/bitcoin\/bitcoin-could-see-one-last-shakeout-in-november-here-are-the-levels-to-watch\/"},"thumbnailUrl":"https:\/\/www.wncen.com\/wp-content\/uploads\/2024\/04\/kanchanara-7E3QGntO66M-unsplash.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/www.wncen.com\/wp-content\/uploads\/2024\/04\/kanchanara-7E3QGntO66M-unsplash.jpeg?fit=1920%2C1277"},"articleSection":"Bitcoin","author":[{"@type":"Person","name":"Rubmar Garcia"}],"creator":["Rubmar Garcia"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/www.wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin bullish","bitcoin correction","bitcoin price","btc","btcusdt","crypto analyst","crypto investor","crypto market","crypto market crash","crypto trader","uptober","us president elections"],"dateCreated":"2024-10-26T13:00:23Z","datePublished":"2024-10-26T13:00:23Z","dateModified":"2024-10-26T13:00:23Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Could See \\u2018One Last Shakeout\\u2019 In November, Here Are The Levels To Watch\",\"url\":\"http:\\\/\\\/www.wncen.com\\\/news\\\/bitcoin\\\/bitcoin-could-see-one-last-shakeout-in-november-here-are-the-levels-to-watch\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/www.wncen.com\\\/news\\\/bitcoin\\\/bitcoin-could-see-one-last-shakeout-in-november-here-are-the-levels-to-watch\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/www.wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/04\\\/kanchanara-7E3QGntO66M-unsplash.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/www.wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/04\\\/kanchanara-7E3QGntO66M-unsplash.jpeg?fit=1920%2C1277\"},\"articleSection\":\"Bitcoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Rubmar Garcia\"}],\"creator\":[\"Rubmar Garcia\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/www.wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin bullish\",\"bitcoin correction\",\"bitcoin price\",\"btc\",\"btcusdt\",\"crypto analyst\",\"crypto investor\",\"crypto market\",\"crypto market crash\",\"crypto trader\",\"uptober\",\"us president elections\"],\"dateCreated\":\"2024-10-26T13:00:23Z\",\"datePublished\":\"2024-10-26T13:00:23Z\",\"dateModified\":\"2024-10-26T13:00:23Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/www.wncen.com\/wp-content\/uploads\/2024\/04\/kanchanara-7E3QGntO66M-unsplash.jpeg?fit=1920%2C1277","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/posts\/649903"}],"collection":[{"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/users\/614"}],"replies":[{"embeddable":true,"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/comments?post=649903"}],"version-history":[{"count":3,"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/posts\/649903\/revisions"}],"predecessor-version":[{"id":649910,"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/posts\/649903\/revisions\/649910"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/media\/604954"}],"wp:attachment":[{"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/media?parent=649903"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/categories?post=649903"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/tags?post=649903"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}