• Cryptocurrencies: 2209
  • Markets: 18660
  • Market Cap: $248619690873.36
  • 24h Vol: $65004279034.785

BTC will go to $6380 before $6641


There is a lot of important news coming out this week.

  • Monday 5th November: 9 ETF Ruling Appeals
  • Monday 9th November: BAKKT release
  • Ripple Special Drawing Rights Conference – Monday 9th November

It is well known in Crypto-Assets that any news whether it is bullish or bearish on ETF’s sees the market rise by more than 5%. Over the weekend, we did see the entire Crypto-Asset market grow by an average of 7% – notable gains including BCH or Bitcoin Cash, Ethereum and Basic Attention Token.

Where is Bitcoin going today

Today is an important day for Bitcoin – not only on Fundamental News but also Technical Analysis

Bearish Bias:

  • Nouvive Research give it a 67% chance that the 9 ETF’s will be denied again, this could of course translate to a 2% down day for Bitcoin.
  • This collated with the current poor technicals for BTC do not give it a fighting chance today for over $6500.
  • On the lower time frames, the RSI Stochastic has turned to oversold, crossing over just several hours, illustrating we will see $6380

Bullish Bias:

  • The OBV has spiked down – illustrating a double top, this could see open interest dump – however this could also translate to a lot of retail open-interest are net short – perhaps illustrating that there will be a pump to close the day above $6500
  • The institutional market as discussed late last week are net long or those that were balanced – are slowly moving to net long positions – illustrating that there will be a nice spike upwards – especially towards the CME close during the middle of this month.
  • On the higher time frames, the 55MA could meet the 15MA – illustrating a bullish cross-over – enough power to see $7200 – this could occur over the next several days.
  • On the lower time frames, the 15/55MA will shortly later today meet the 90D MA – this could see BTC change from a dump down to $6380 to $6550.

Nouvive sees BTC going to $6380 to meet several of the volume gaps before pumping to $6641. 

Nouvive: Home of Crypto Beginners, Traders & Investors. Nouvive provides Cryptocurrency trading news, Analysis and indicators for beginners, traders and investors.

Information on these pages contain speculative statements that involves risks and uncertainties. Crypto-Assets profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell. Nouvive does not in any way guarantee that this information is free from mistakes, errors or material misstatements. It does also not guarantee that this information is of a timely nature. Crypto-Assets involve risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing or trading are your responsibility alone. For more information, please view the Risk Warning Below.

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ViFeed Indicators

Bitcoin (BTC)
48.00 RSI
Ethereum (ETH)
34.00 RSI
53.00 RSI
Bitcoin Cash (BCH)
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Binance Coin (BNB)
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0.00 RSI
Stellar (XLM)
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Cardano (ADA)
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