The post Bitcoin (BTC) Price Analysis for November 7 appeared on BitcoinEthereumNews.com. Bears are dominating on the last working day of the week, according to CoinStats. Top coins by CoinStats BTC/USD The price of Bitcoin (BTC) has declined by 1.18% over the last 24 hours. Image by TradingView On the hourly chart, the rate of BTC is in the middle of the local channel, between the support of $99,192 and the resistance of $102,463.  You Might Also Like As most of the daily ATR has passed, there are low chances of seeing sharp moves by the end of the day. Image by TradingView On the longer time frame, the picture is also bearish. If the breakout of the support of $98,898 happens, the correction may continue to the $96,000-$98,000 zone until the end of the week. Image by TradingView From the midterm point of view, one should focus on the weekly candle’s closure in terms of the $100,426 level. If the bar closes below that mark, traders may see an ongoing dump to the $90,000-$95,000 area. Bitcoin is trading at $100,611 at press time. Source: https://u.today/bitcoin-btc-price-analysis-for-november-7The post Bitcoin (BTC) Price Analysis for November 7 appeared on BitcoinEthereumNews.com. Bears are dominating on the last working day of the week, according to CoinStats. Top coins by CoinStats BTC/USD The price of Bitcoin (BTC) has declined by 1.18% over the last 24 hours. Image by TradingView On the hourly chart, the rate of BTC is in the middle of the local channel, between the support of $99,192 and the resistance of $102,463.  You Might Also Like As most of the daily ATR has passed, there are low chances of seeing sharp moves by the end of the day. Image by TradingView On the longer time frame, the picture is also bearish. If the breakout of the support of $98,898 happens, the correction may continue to the $96,000-$98,000 zone until the end of the week. Image by TradingView From the midterm point of view, one should focus on the weekly candle’s closure in terms of the $100,426 level. If the bar closes below that mark, traders may see an ongoing dump to the $90,000-$95,000 area. Bitcoin is trading at $100,611 at press time. Source: https://u.today/bitcoin-btc-price-analysis-for-november-7