Bitcoin Price Analysis — November 14 (Daily Chart)

Last week’s bearish wave appears to have dissipated as BTC regains stability above 64K. That said, we could see some bullish price action in the near term as the benchmark cryptocurrency maintains its overall upward trajectory. Interestingly, the price reaction to the recently-implemented Taproot upgrade has yet to hit the market, with many speculators predicting a parabolic surge towards the 70K area. Nonetheless, BTC needs to prevent a fall below the 63K level (5-week-long trendline) or risk entering a bearish spiral into the end of the year.

Meanwhile, my resistance levels are at $65,000, $66,000, and $67,000, and my key support levels are at $64,000, $63,000, and $62,000.

Total Market Capitalization: $2.83 trillion

Bitcoin Market Capitalization: $1.21 trillion

Bitcoin Dominance: 43.1%

Market Rank: #1