Bitcoin price outlook for November

Bitcoin has fallen back toward $78,000 on Nov. 5 after briefly recovering above $81,000, leaving its November rebound vulnerable as buyers struggle to hold the $80,000 level. Bitcoin’s daily chart shows a descending channel, with resistance clustered around $80,000 to $82,000. Daily RSI remains below 50, while weekly money flow holds above the zero line. Liquidation concentrations sit near $79,000 and $80,000, with further liquidity below $76,000. Analysts differ on recovery prospects, with forecasts ranging from continued consolidation to a conditional $85,000 rebound. According to Binance BTC/USDT data displayed on TradingView, Bitcoin traded at $78,000 at 15:01 UTC on Nov.

Source: crypto.news