Weekly BTC-USD(1 November)
Bitcoin closed the October month on positive sentiment, it appreciated by ~40% and formed a strong bullish monthly candle with a new ATH of $66,999. However, on the weekly TF, BTC has been trading in a sideways trend in the range of 58K to 
64K from the last three weeks. The overall structure is still looking positive and further buying strength is most likely to continue in the coming weeks, but small corrections or cooldown periods will continue to emerge as we move to the higher unchartered territories.
The recent rally is supported by institutional buying and not only by retail users and this can be seen by the fact that there is no major dump in the prices after making a new ATH. On the lower side, the nearest support is present at
59K followed by the major support at 55K.
As per the Elliott Wave formation, it seems BTC has already completed its third wave and is now on its way to complete 4th correction move, but the way it is sustaining above 60K, it seems bulls are in no mood to close the weekly candle below 60K which give quite a bullish outlook moving forward. On the higher side, the immediate resistance is present at64K, once we have a decisive closing above this level, the next potential target would be 66K followed by 68.5K.
64K from the last three weeks. The overall structure is still looking positive and further buying strength is most likely to continue in the coming weeks, but small corrections or cooldown periods will continue to emerge as we move to the higher unchartered territories.The recent rally is supported by institutional buying and not only by retail users and this can be seen by the fact that there is no major dump in the prices after making a new ATH. On the lower side, the nearest support is present at
59K followed by the major support at 55K.As per the Elliott Wave formation, it seems BTC has already completed its third wave and is now on its way to complete 4th correction move, but the way it is sustaining above 60K, it seems bulls are in no mood to close the weekly candle below 60K which give quite a bullish outlook moving forward. On the higher side, the immediate resistance is present at
64K, once we have a decisive closing above this level, the next potential target would be 66K followed by 68.5K.
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