Bitcoin has been consolidating around the $34,000 level over the past day after briefly nearing $36,000 earlier this week. The leading cryptocurrency currently trades at $34,800, up 1.6% over the last 24 hours.
Keypoints
- Bitcoin’s price is consolidating around $34,800 on November 4 after nearing $36,000 earlier in the week. Key levels to watch are around $34,300, $34,700, and $35,100. Strong volume and lack of selling pressure are seen as positive signs.
- If Bitcoin loses support around $34,100, it could signal a move lower. The 200-period EMA on the 1-hour chart is also an important support level.
- Bitcoin is pushing toward $35,000 again after a minor correction yesterday. Most altcoins are also popping in price.
- Bitcoin is currently trading around $34,800, up 1.6% in the last 24 hours. More long positions have been liquidated recently, indicating bulls have the upper hand currently.
Analysts are keeping a close eye…
