We collect cookies to analyze our website traffic and performance; we never collect any personal data. Cookie Policy
Accept
The Tycoon Herald
  • Trending
  • World
  • Politics
  • Business
    • Business
    • Economy
    • Real Estate
    • Money
    • Crypto / NFT
  • Innovation
  • Lifestyle
    • Lifestyle
    • Food
    • Travel
    • Fashion
    • Leadership
  • Health
  • Sports
  • Entertainment
Reading: Bitcoin Has Fallen 10% From Its All-Time High—What Traders Should Know
Sign In
The Tycoon HeraldThe Tycoon Herald
Font ResizerAa
Search
  • Trending
  • World
  • Politics
  • Business
    • Business
    • Economy
    • Real Estate
    • Money
    • Crypto / NFT
  • Innovation
  • Lifestyle
    • Lifestyle
    • Food
    • Travel
    • Fashion
    • Leadership
  • Health
  • Sports
  • Entertainment
Have an existing account? Sign In
Follow US
© Tycoon Herald. All Rights Reserved.
Bitcoin Has Fallen 10% From Its All-Time High—What Traders Should Know
The Tycoon Herald > Money > Bitcoin Has Fallen 10% From Its All-Time High—What Traders Should Know
Money

Bitcoin Has Fallen 10% From Its All-Time High—What Traders Should Know

Tycoon Herald
By Tycoon Herald 5 Min Read
Share
SHARE

Bitcoin retraced recently. Technical analysts shed some light on where it will go next. (Photo by … [+] Dan Kitwood/Getty Images)

2017 Getty Images

Bitcoin prices suffered a modest pullback over the last few days, dropping close to 10% after reaching their latest all-time high of nearly $69,000 on Wednesday, November 10.

The digital currency approached $62,000 today, declining to as little as $62,321.50, CoinDesk figures show.

Upon reaching this price point, the cryptocurrency was down 9.7% from its record price of $68,990.90, additional CoinDesk data reveals.

Since falling to that intraday low, the digital currency recovered, approaching $64,500, and it was trading below $64,000 at the time of this writing.

[Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.]

Following these latest fluctuations, several analysts weighed in, offering their perspective on what technical traders should know.

“Bitcoin had a slight pullback (for Bitcoin standards) after hitting new all-time highs on Wednesday,” said Jake Wujastyk, chief market analyst of TrendSpider.

“This move was strongly correlated with the markets moving down on Wednesday as the broad markets were spooked about the news regarding Evergrande,” he stated.

“However, Bitcoin continues to respect the volume weighted average price from the October 27th reversal and is showing strength into the weekend.”

MORE FOR YOU

“The main level of support market participants should watch is the volume-weighted average price (VWAP) from the October 27th reversal candle. This is right around $63,300,” said Wujastyk.

Jon Pearlstone, publisher of the newsletter CryptoPatterns, spoke to a similar support level, singling out the $62,500 figure.

“Bitcoin continues to show strong upside moves followed by pullbacks to retest breakout levels,” he stated.

“Today price tested the key $62,500 range and held which continues to give Bitcoin a bullish edge.”

Ben Armstrong, founder of BitBoy Crypto, also commented on the situation, speaking to a slightly lower support level.

“Bitcoin’s movement is another healthy retest of the support levels around $60k,” he said.

“Bouncing so hard off of the low 60’s is a positive sign for the bull run and bitcoin’s health.”

Kiana Danial, CEO of Invest Diva, also supplied some technical analysis, although she did so by examining different indicators.

“On the daily chart, we can see the formation of an angled double top which is a temporary bearish indication,” she indicated.

“The neckline of this pattern falls on $58K which is also the 38% Fibonacci retracement level which traces the latest uptrend that started at the end of September and seems to have paused in November,” said Danial.

“The Ichimoku cloud is acting as a strong layer of support right below $58K. This means, if these strong psychological levels can prevent further drops, then we could see the Bitcoin price continue within this choppy new uptrend.”

“A break below $58K could open doors for further drops towards the 50% Fibonacci retracement level at $54,555.”

When pointing out key resistance, Wujastyk emphasized the $65,000 level.

“The main level of resistance above market participants should watch is the volume-weighted average price (VWAP) from Wednesday’s high right around $65,000,” he stated.

Collin Plume, CEO and founder of My Digital Money, predicted that bitcoin will trade close to this level before moving to the upside.

“Bitcoin will simmer longer in the $64k-$65k before another bull run to  break $70K. After that, $73K will be a major resistance,” he stated.

Armstrong also chimed in, providing slightly more optimistic figures.

“$70k resistance is the next hurdle and it’s going to be a big one. Ideally, we’ll see a parabolic move that can break $70k to pave the way towards $100k,” he said.

Disclosure: I own some bitcoin, bitcoin cash, litecoin, ether, EOS and sol.

You Might Also Like

How To Make A Funds: 12 Simple Methods To Do It (The Full Information) – Dollarsanity

10 Outdated-Normal Cleansing Suggestions from Grandma – Dollarsanity

Wedding ceremony On A Funds: Get $30K-Like Wedding ceremony For $5K or Much less – Dollarsanity

80 Issues I Stopped Shopping for to Save Money Quick and Pay Off Debt – Dollarsanity

50 Small Business Concepts For Ladies – Dollarsanity

TAGGED:MoneyThe Forbes Journal
Share This Article
Facebook Twitter Email Copy Link Print
Small Airplane Erupts in Fiery Crash at London Southend Airport
Entertainment

Small Airplane Erupts in Fiery Crash at London Southend Airport

london southend airport small aircraft crashes Erupts into Flames Printed July 13, 2025 10:09 AM PDT A small plane crashed and have become enveloped in flames at London Southend Airport,…

By Tycoon Herald 1 Min Read
Tremendous-Soaker Stars — It is Getting Moist And Wild This Summer season!
July 13, 2025
Why has England vs India’s third Check been so sluggish? Ball modifications, accidents, theatre, and ladybirds
July 13, 2025
Saweetie Makes It Rain at Las Vegas Strip Membership, on Video
July 13, 2025
Evian Championship: England’s Lottie Woad misses out on historical past as Grace Kim snatches play-off win over Jeeno Thitikul
July 13, 2025

You Might Also Like

80 Timeless Frugal Residing Suggestions That Nonetheless Work At present – Dollarsanity
Money

80 Timeless Frugal Residing Suggestions That Nonetheless Work At present – Dollarsanity

By Tycoon Herald 18 Min Read
Easy methods to make Money on Pinterest With out a Weblog – Dollarsanity
Money

Easy methods to make Money on Pinterest With out a Weblog – Dollarsanity

By Tycoon Herald 35 Min Read
21 Web sites The place Wealthy Individuals Giveaway Free Money – Dollarsanity
Money

21 Web sites The place Wealthy Individuals Giveaway Free Money – Dollarsanity

By Tycoon Herald 12 Min Read

More Popular from Tycoon Herald

MEET THE FATHER OF COADUNATE ECONOMIC MODEL
BusinessTrending

MEET THE FATHER OF COADUNATE ECONOMIC MODEL

By Tycoon Herald 2 Min Read
Woman Sentenced to 7 Days in Jail for Walking in Yellowstone’s Thermal Area

Woman Sentenced to 7 Days in Jail for Walking in Yellowstone’s Thermal Area

By Tycoon Herald
Empowering Fintech Innovation: Swiss Options Partners with Stripe to Transform Digital Payments
InnovationTrending

Empowering Fintech Innovation: Swiss Options Partners with Stripe to Transform Digital Payments

By Tycoon Herald 7 Min Read
Entertainment

Taylor Swift and Travis Kelce Attend US Open for Males’s Ultimate Match

Taylor Swift and Travis Kelce have a packed social calendar this weekend ... and, they're maintaining…

By Tycoon Herald
Sports

Match Officers Mic’d Up: William Saliba and Matthijs de Ligt choices mentioned

PGMOL chief Howard Webb believes it was the right choice to improve William Saliba's yellow card…

By Tycoon Herald
Trending

U.S. Blew Up a C.I.A. Post Used to Evacuate At-Risk Afghans

A controlled detonation by American forces that was heard throughout Kabul has destroyed Eagle Base, the…

By Tycoon Herald
Leadership

Northern Lights: 17 Best Places To See Them In 2021

Who doesn’t dream of seeing the northern lights? According to a new survey conducted by Hilton, 59% of Americans…

By Tycoon Herald
Real Estate

Exploring Bigfork, Montana: A Little Town On A Big Pond

Bigfork, Montana, offers picturesque paradise in the northern wilderness. National Parks Realty With the melting of…

By Tycoon Herald
Leadership

Leaders Need To Know Character Could Be Vital For Corporate Culture

Disney's unique culture encourages young employees to turn up for work with smiles on their faces.…

By Tycoon Herald
The Tycoon Herald

Tycoon Herald: Your instant connection to breaking stories and live updates. Stay informed with our real-time coverage across politics, tech, entertainment, and more. Your reliable source for 24/7 news.

Company

  • About Us
  • Newsroom Policies & Standards
  • Diversity & Inclusion
  • Careers
  • Media & Community Relations
  • WP Creative Group
  • Accessibility Statement

Contact Us

  • Contact Us
  • Contact Customer Care
  • Advertise
  • Licensing & Syndication
  • Request a Correction
  • Contact the Newsroom
  • Send a News Tip
  • Report a Vulnerability

Terms of Use

  • Digital Products Terms of Sale
  • Terms of Service
  • Privacy Policy
  • Cookie Settings
  • Submissions & Discussion Policy
  • RSS Terms of Service
  • Ad Choices
© Tycoon Herald. All Rights Reserved.
Welcome Back!

Sign in to your account

Lost your password?