• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Economy Bitcoin Hits $76,825; Ethereum Breaks Key Resistance
Economy

Bitcoin Hits $76,825; Ethereum Breaks Key Resistance

by November 8, 2024
by November 8, 2024 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

Overall Analysis

Bitcoin, at a record high of $76,825, continues its rally upwards for a second consecutive day. The price is currently in a strong uptrend. 
Ethereum successfully closed above major resistance, rally seems to continue towards the upside. 

Bitcoin Chart Analysis 

BTC/USD 15-Minute Chart (Source: TradingView)

On the November 7th, 2024 trading session, bitcoin marked a record all-time high of $76,825. Currently, the price is moving in an uptrend, making a higher high higher low pattern with previous swings still intact. 

After breaking a strong resistance on October 28th 2024, the price gave a retest and has continued making green candles since the last three trading sessions. RSI has just crossed the 70 mark, indicating an overbought scenario. The price needs to cool off, creating a halt area near an all-time high so as to continue with an upside rally. 

Currently, on 15 15-minute time frame price is moving upside down in a higher high and higher low formation. Stong support can be seen taken from the supporting trendline. Such price action makes it easy for traders to plan an entry. 

If you are looking for an entry trigger, then there are a few mentioned below. 

If the price bounces back from the supporting trendline with a rejection candle, then buyers may consider entering with the stop loss below the previous swing low and target till $76,800 level.
If the price closes below the supporting trendline and creates few halt candles, then sellers may consider entering the trade with a stop loss above the previous swing high and target for $74,318 and $72,500 levels.

Ethereum Chart Analysis 

ETH/USD 15-Minute Chart (Source: TradingView)

On the November 7th, 2024 trading session, Ethereum successfully closed above the strongest resistance zone and continued moving upwards while taking support on the trendline. If the price successfully sustains above $2,774 for more than 2 to 3 days, then the price can be seen moving up sharply. 

Price has successfully closed above the $2,774 level on the daily time frame. Price needs to take a halt at this level so as to further continue the rally. Once the price breaks, the halt area positional trader may consider entry for long-term returns. 

Currently, on the 15-minute time frame price can be seen moving upwards while taking support of the trendline, price facing rejection from the $3,924 level. 

If you are looking for an entry trigger, there are a few: 

If the price rejects from the supporting trendline, then buyers may consider entering a trade with a stop loss below the previous swing and target till $3,013
If the price closes below the supporting trendline, then sellers may consider entering the trade with a stop loss above the previous swing high and a target of $2,820

The post Bitcoin Hits $76,825; Ethereum Breaks Key Resistance appeared first on FinanceBrokerage.

You Might Also Like
  • Biden touts pro-Native American efforts despite axing oil drilling that sustains tribes
  • Polling guru Nate Silver offers ‘struggling’ Biden advice as polls with Trump tighten
  • House GOP claims Hunter Biden lied under oath multiple times during congressional deposition
  • Ilhan Omar calls Israel lobby AIPAC a ‘right-wing’ PAC funded by ‘dark money’
Share
0
FacebookTwitterPinterestWhatsapp

previous post
Nvidia Stock Rises with DJIA Inclusion & AI Driving Growth
next post
S&P 500 Hits Record as Fed Cuts Rates

You may also like

The Modern Day Forex Market

October 16, 2024

Harris conspicuously absent from public memorials honoring service members killed...

August 26, 2024

Biden’s ex-press secretary Jen Psaki to sit down with House...

July 2, 2024

Biden caters to ‘far-left’ dark money groups with Supreme Court...

July 30, 2024

IDF troops raid Hamas compound, seize weapons cache from hidden...

May 21, 2024

New York’s legal bid to redraw House map could decide...

June 9, 2023

Pete Buttigieg’s husband asks Bud Light boycotters if they plan...

April 11, 2023

Texas pushes back as Biden admin digs up old fight...

September 4, 2023

Sen. Rubio introduces bill to crack down on southern border...

February 9, 2023

Wes Moore, considered a rising star among Democratic governors, endorses...

July 22, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Amazon taps Xbox co-founder to lead new team developing ‘breakthrough’ consumer products

      May 30, 2025
    • Nvidia results spark global chip rally

      May 30, 2025
    • Boeing to resume airplane deliveries to China next month, ramp up Max production, CEO says

      May 29, 2025
    • Nuclear Power Trio: OKLO, SMR, and CCJ in Focus

      May 29, 2025
    • Analyzing SIL, USO, and NVDA: Could These Bullish Patterns Trigger?

      May 29, 2025

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,764 views
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,470 views
    • 3

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 2,450 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,431 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,307 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,105)
    • Investing (538)
    • Stock (2,578)

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 3

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • Amazon taps Xbox co-founder to lead new team developing ‘breakthrough’...

      May 30, 2025
    • Nvidia results spark global chip rally

      May 30, 2025
    • Boeing to resume airplane deliveries to China next month, ramp...

      May 29, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,105)
    • Investing (538)
    • Stock (2,578)

    Disclaimer: RoundTableThoughts.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    Stefanik takes aim at ‘unacceptable’ Blinken...

    July 15, 2023

    Pro-life activist sentenced to nearly 5...

    May 16, 2024

    Maine Gov. Janet Mills wants to...

    January 17, 2023
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here