Daily BTC Update

Nov 11, 2021

BTC's break to a new all-time high was short-lived as sellers stepped in to spoil everybody's fun. A closer look at the chart reveals some RSI divergence and weak volume, both of which wasn't helping BTC's cause. Let's not get too stressed out yet though as BTC is still sitting pretty, even after a better than expected result for the DXY. This overnight pullback has not been met with any real momentum so far, and there is a chance that price will stabilise at these levels. We are still above all major support levels and only have the recent all-time high stopping us from going higher. If we do drop below these levels I'm not expecting to fall too far and HODL is still the best idea for investors and long term traders as we have very strong support / demand at $60-62K level.