Bitcoin Price Analysis — November 2

As projected in my last analysis, BTC has finally broken above the bullish flag as the benchmark cryptocurrency snapped the critical $63,000 resistance earlier today. That said, the flagship cryptocurrency has yet to record a close above the $64,000 pivot line to secure its renewed bullish bias. As such, bulls need to keep the pressure on and scale the $64,000 resistance in the coming hours to open the way to retesting its recent record high at $67,000. While a sustained bearish move seems unlikely at the moment, a break below the $62,000 area could stall the bullish projection illustrated above.

Meanwhile, my resistance levels are at $64,000, $65,000, and $66,000, and my key support levels are at $63,000, $62,000, and $61,000.

Total Market Capitalization: $2.73 trillion

Bitcoin Market Capitalization: $1.19 trillion

Bitcoin Dominance: 43.7%

Market Rank: #1