Bitcoin Must Hold $75,000 Support or Risk Drop to Mid-$60,000s
Minseung Kang
Summary
- Jamie Coutts said Bitcoin is holding the $75,000 support level, but a break below it could lead to further losses into the mid-$60,000s.
- He said a break of $75,000 could turn several key trend indicators into bearish signals.
- Conversely, a break above $87,000 in Bitcoin could confirm the trend reversal that began in August across major weekly technical indicators and on-chain indicators.
Forecast Trend Report by Period
Bitcoin is holding support at $75,000, but a break below that level could open the way for a further decline into the mid-$60,000s, Jamie Coutts, Real Vision's chief crypto analyst, said.
On Nov. 6, Coutts wrote on X that Bitcoin has so far maintained the $75,000 support line. Below that level, he said, there is little clear support until the mid-$60,000s.
A break of $75,000 could also turn several key trend indicators bearish, he added.
Conversely, if Bitcoin breaks above $87,000, the trend reversal that began in August could be confirmed across major weekly technical and on-chain indicators.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.