Bitcoin Price Prediction: BTC/USD Stays around $63,000 Level ByAzeez MustaphaPRO INVESTOR Updated: 03 November 2021 DisclosureWe sometimes use affiliate links in our content, when clicking on those we might receive a commission – at no extra cost to you. By using this website you agree to our terms and conditions and privacy policy. Join Our Telegram channel to stay up to date on breaking news coverage Bitcoin Price Prediction – November 3 The Bitcoin price prediction continues to follow the sideways movement as the price continues to trade around the resistance level of $63,000. BTC/USD Long-term Trend: Ranging (Daily Chart) Key levels: Resistance Levels: $70,000, $72,000, $74,000 Support Levels: $55,000, $53,000, $51,000 BTCUSD – Daily Chart Buy Bitcoin Now BTC/USD is likely to experience another unexpected selloff if the market price crosses below the 9-day and 21-day moving averages. Today, the Bitcoin price drops slightly to touch the support of $62,787 after touching the daily high of $63,568. However, a reversal could play out if the king coin trades above the moving averages, and this may send BTC/USD above the opening price of $63,266 level. Bitcoin Price Prediction: Bitcoin Price Not Yet Ready for the Upward Move At the moment, the technical indicator Relative Strength Index (14) reveals that the Bitcoin price is consolidating above 60-level and any drop below this level could lead the first digital asset to cross below the 9-day and 21-day moving averages. However, the technical indicator Relative Strength index (14) may follow the upside as the signal line could make a quick turn towards 65-level. On the upside, recovery may not come now but any attempt to move towards the upper boundary of the channel which could hit the resistance levels of $70,000, $72,000, and $74,000 respectively. On the other hand, any bearish movement below the 9-day and 21-day moving averages could force the Bitcoin price to follow a painful path towards the support levels of $55,000, $53,000, and $51,000. BTC/USD Medium-Term Trend: Ranging (4H Chart) Looking at the 4-hour chart, the Bitcoin price is seen hovering below the 9-day and 21-day moving averages. The chart reveals that the coin touches the support level of $61,665 as the market prepares for more downtrends by staying below the moving averages. More so, BTC/USD is likely to follow the bearish movement if the coin faces the lower boundary of the channel. Therefore, critical support could be located at $60,000 and below. Moreover, if the price bounce back above the 9-day and 21-day moving averages and cross above the upper boundary of the channel, the Bitcoin price may likely reach the resistance level of $64,000 and above. With the look of things, as the technical indicator Relative Strength Index (14) crosses below 50-level, the king coin is likely to visit more downtrends but if the price breaks above the channel, BTC/USD may follow the upward movement. Looking to buy or trade Bitcoin (BTC) now? Invest at eToro! Buy Bitcoin Now 68% of retail investor accounts lose money when trading CFDs with this provider Read more: How to buy Bitcoin How to buy Cryptocurrency Join Our Telegram channel to stay up to date on breaking news coverage