This rejection sent BTC into a rapid decline, raising concerns among traders and market observers alike.

New Resistance Emerges As Key Level Breaks

Following the failed attempt to breach 109,400 dollars, Bitcoin also lost the 108,791-dollar support, falling as low as 107,500 dollars. With this shift, 108,791 now acts as a fresh resistance point, while the next critical support lies near 107,000 dollars.

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Analysts warn that if this support fails, BTC could continue its slide toward the 105,000-dollar range, marking a deeper correction in the short term. Such a move could trigger further selling and a rise in bearish sentiment.

What Should Investors Watch For?

Given the recent developments, caution is advised. Technical indicators are weakening, and declining trading volumes suggest a drop in market confidence. Holding the 107,000-dollar support is essential for a potential rebound.

Should that level give way, Bitcoin may face accelerated losses. Investors are urged to manage risk carefully and set clear stop-loss levels to protect against further downside volatility.

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The post Bitcoin Breaks Key Support: Is a Deeper Drop on the Horizon? appeared first on Coin Engineer.

Rejection From $109,400 Resistance Level

Over the weekend, Bitcoin broke past the previously highlighted $108,791 resistance and surged to $109,400. However, this level acted as a strong resistance, prompting selling pressure and a pause in the upward momentum.

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If BTC manages to close above $109,400, the likelihood of a move toward the psychological $110,000 mark increases significantly. Such a breakout would signal renewed bullish strength.

$108,791 Turns Into Key Support

In contrast, failure to sustain above resistance could lead to a retest of the $108,791 level, which now serves as a key support. A breakdown below this level may open the door for a deeper correction toward $108,000 or even lower.

Traders are advised to closely watch these levels as price action near them may define the next short-term trend in Bitcoin.

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

The post Bitcoin Faces Resistance At $109,400: Is A Move Toward $110K Coming? appeared first on Coin Engineer.

Key Intraday Levels for Bitcoin

The BTC/USDT pair gained 0.38% in the last 24 hours and is currently trading at $68,577. If the decline deepens, Bitcoin (BTC) could fall to a lower support level of $68,200 or further down to a support zone of $66,200. Our resistance levels are $69,400 and $71,000, respectively.

Ethereum (ETH): The ETH/USDT pair has gained 0.75% in the last 24 hours and is currently trading at $2,462. The resistance levels for ETH are $2,500 and then $2,630. The support levels are at $2,440 and $2,380.

Mina (MINA): The MINA/USDT pair has lost 3.02% in the last 24 hours and is currently trading at $0.46. The resistance levels for MINA are $0.50 and then $0.56. The support levels are at $0.46, with a further decline potentially bringing it down to the $0.43 support area.

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NEAR Protocol (NEAR): The NEAR/USDT pair has lost 3.10% in the last 24 hours and is currently trading at $3.63. The resistance levels for NEAR are $4.22 and then $4.62. The support levels are at $3.53, with a deeper decline possibly reaching the $3.07 support area.

Jupiter (JUP): The JUP/USDT pair has lost 4.06% in the last 24 hours and is currently trading at $0.87. The resistance levels for JUP are $0.96 and then $1.07. The support levels are at $0.81, with a further decline potentially bringing it down to the $0.73 support area.

Trending Coins

In the last 24 hours, the trending coins in the crypto market include Ethervista (VISTA), Grass (GRASS), and MAGA (TRUMP). The top gainers are led by michi ($michi), Grass (GRASS), and Fwog (FWOG). On the list of the biggest losers in the market, you will find Popcat (POPCAT), ApeCoin (APE), and THORChain (RUNE).

Bitcoin Liquidation Map

Looking at Bitcoin’s 12-hour liquidation map, a notable liquidation level is found at $69,942, amounting to $19 million. On the lower side, the significant liquidation level is at $68,105, totaling $42 million.

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

The post Latest Update on Bitcoin and Cryptocurrencies – November 4 appeared first on Coin Engineer.