The Bitcoin price has posted five consecutive red daily candles since it stopped just short of its all-time high at $73,620 last Tuesday. As a result, the BTC price has fallen by around 7%. This decline is evident on the weekly chart, which shows a major bearish weekly candle – a gravestone doji. Chartered Market Technician (CMT) Aksel Kibar noted via X, “BTCUSD weekly candle can look similar to GOLD,” and explained that it indicates a reversal is on the horizon. However, he added, “It is not dependable as an individual candle. Best to combine it with a following weak candle as a confirmation of trend reversal. […] The market narrative is that the bulls attempt to push to new highs over the session but the bears push the price action to near the open by the session close. Bitcoin To Hit $75,000 By End Of November? Despite this, Singapore-based crypto trading firm QCP Capital remains bullish in its latest investor note, highlighting significant shifts in both political prediction markets and the BTC derivatives market. Related Reading: Spot ETFs Fail To Ignite ..
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