Bitcoin Struggles to Stay Below Monthly Breakeven Price But Data Suggests We Can Hit Some Major Support Again

By Rubikkav | Rubikkav Insights | 31 Oct 2023


  • The main market asset remains above $34k but there is still a convergence that many traders may be thinking about realizing their profits.
  • Weekly, Bitcoin closed another stage trying to break the 35k resistance, but stabilized in an area commonly called the equilibrium zone.
  • Our community obtained good results in the financial operations of the month of October. Uptober really impressed many.

Happy 15 Years Bitcoin

Exactly 15 years ago the Bitcoin white paper was published. To date, the adoption of cryptocurrencies has grown. Therefore it is important to know what awaits us. Anyway, "happy 15th birthday."

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Analytically, Bitcoin closes the month of October above $34k and within an important dividing line. Qualifying data tells us that the bullrun is just beginning, because long-term detectors show better interest now compared to previous months.

The truth is that with the breaking of the resistance of $27755.89 it marked a new milestone that made the open interest of the derivative markets reach a positive liquidity margin. In any case, we cannot stop contemplating the idea that institutions want to distribute and close positions in the short term.

Plane Of Uncertainty

When this article was written, medium-term detectors were struggling to keep the price on the balance line between the $35k and $34k zone. However, the last weekly candle informs us of indecision on the part of traders.

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What is clear at the moment are the facts that we could see Bitcoin oscillating between the highest daily closing price (PDH) at roughly $35995.52 and the previous lowest price (PDL) and very close to $29712.36.

Big Results

We have officially compiled the results of the Uptober trade opportunities we have submitted for both the premium community and the free community. šŸ³šŸŽŽšŸŒŸ

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In total, we have accumulated 1605.35% profits šŸ’¹ with -25.87% stop loss āŒ ; 178.87% Average Ratio šŸ“³; and Accuracy Rate of 111.11%. šŸ›„ Total Opportunities 10, of which 9 were won and 1 lost.

You can check all results here: https://buff.ly/3PDu2ID.

Join tu premium now: [@rubikkav](https://t.me/rubikkav).


See you next time...


Last article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. Remember that all information presented here is a combination of third party data added to our personal opinion.

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