Bitcoin (BTC) momentum indicators suggest breakout attempt above resistance

Bitcoin (BTC) attempted to move above the $63,530 resistance area on Nov 2 but was rejected. It’s currently in the process of finding support before potentially making another breakout attempt.

BTC has been moving upwards since Oct 28, when it bounced at the 0.382 Fib retracement support level at $56,550 (green icon). So far, it has reached a high of $64,270 on Nov 2.

The increase on Nov 2 was especially significant since BTC created a bullish candlestick and the highest close since the all-time high price on Oct 20.

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