Bitcoin closed the week in a small plus. The BTC/USD pair increased by 0.74% to $ 61299, in October – by 39.88%. During the week, the price dropped to $57,820. The minimum of the month is fixed at $43283. Trading was volatile at the beginning of the week and since Thursday the consolidation price range has narrowed to $59340–$63400.
Buyers are holding positions above $ 60 thousand in anticipation of the continuation of the rally. The growth of quotations is restrained by the strengthening of the dollar on forex and avoiding risk on the eve of the US Federal Reserve meeting (November 3). The current meeting is an important event for traders and investors, since mixed statistics were released in October and everyone is guessing whether the Fed will start reducing bond purchases or not.
The technical picture on the hourly TF remains favorable for continued growth
To neutralize the “bearish” sentiment, buyers need to skip the $64,000 level (the goal for today). Here you need to keep an eye on altcoin/BTC pairs. Their growth will create pressure on bitcoin and the dollar.
The situation is slightly better on the air. Due to the increase in the ETH/BTC pair, ether has updated the maximum by 4460. On the Binance exchange, the current exchange rate is $4350 per ether. Nothing prevents buyers from returning to the $4475 level. For the next day, the support levels are $4160 and $3980.