Bitcoin has further to fall before BTC attacks $70K
Bitcoin and altcoins see retracement amid a short-term target of April’s all-time highs to act as support for BTC/USD. Bitcoin (BTC) remains bullish but has “one more leg down” to complete before a resurgence, one trader argues. In an analysis on Nov. 10, popular Twitter account Crypto Ed said that the pullback from this week’s all-time highs above $68,500 was turning out to be deeper than anticipated.
Target $65,000 for Bitcoin
“Going a bit deeper as I was expecting yesterday. Looks like it will do 1 more leg down to complete that ABC,” he said alongside a forecast price trajectory chart. “Lines up with 2nd chart: taking out those lows and retest support. When bounce, going for 70k.”
BTC/USD could thus fall to as low as $65,000 in the short term, marking retention of April’s old highs as support. Others framed Monday’s record as a record slump for the United States dollar against Bitcoin, among them longtime trader Peter Brandt.
“$1 when I was born is worth 8 cents today. $1 today will likely to be worthless when my grand kids are my age,” part of a Twitter post read Wednesday.
BTC/USD circled $66,800 at the time of writing, data from Cointelegraph Markets Pro and TradingView showed, having bounced at $66,250 hours previously.
Consolidation takes hold of major cryptocurrencies
Altcoins, meanwhile, copied Bitcoin in its modest comedown, with Ether (ETH) also correcting from all-time highs. None of the top 10 cryptocurrencies by market capitalization showed positive performance over the past 24 hours.
The rout seemed to be fuelled by Tesla stock, which experienced a sudden 12% sell-off shortly after the start of trading Tuesday.
The destination of CEO Elon Musk’s 10% stock sale worth $23 billion also remained a topic of debate amid hopes that Bitcoin would see a fresh commitment from the world’s richest man.
Top Cryptocurrencies with Price Predictions
| # | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
| 1 |  BTC |
Bitcoin predictions | 84.4% | 17 | $66 883.38 | 1.93% | 9.82% | $1 317 592 879 986 |  |
|
|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 84% | 20 | $3 099.26 | 5.28% | 6.21% | $372 289 746 947 |  |
|
| 3 |  USDT |
Tether predictions | 94.4% | 1 | $1.000445 | 0.04% | 0.07% | $111 384 906 668 |  |
|
| 4 |  BNB |
Binance Coin predictions | 90.4% | 13 | $580.73 | 1.80% | -0.73% | $85 708 282 896 |  |
|
| 5 |  SOL |
Solana predictions | 81.6% | 37 | $172.71 | 5.61% | 18.88% | $77 512 358 873 |  |
|
| 6 |  USDC |
USD Coin predictions | 92.8% | 1 | $1.000055 | 0.02% | 0.01% | $33 433 494 716 |  |
|
| 7 |  XRP |
XRP predictions | 88.4% | 12 | $0.523443 | 1.38% | 3.68% | $28 940 589 052 |  |
|
| 8 |  DOGE |
Dogecoin predictions | 80% | 32 | $0.154651 | 2.99% | 7.12% | $22 321 793 294 |  |
|
| 9 |  TON |
Toncoin predictions | 67.2% | 67 | $6.42 | -3.60% | -7.40% | $22 317 928 096 |  |
|
| 10 |  ADA |
Cardano predictions | 83.2% | 23 | $0.483023 | 4.10% | 8.17% | $17 232 037 643 |  |
|
| 11 |  SHIB |
SHIBA INU predictions | 77.2% | 42 | $0.000025 | 1.93% | 10.02% | $14 626 352 554 |  |
|
| 12 |  AVAX |
Avalanche predictions | 78% | 36 | $37.24 | 6.72% | 10.79% | $14 244 757 890 |  |
|
| 13 |  TRX |
TRON predictions | 82.4% | 34 | $0.124371 | 0.17% | -1.76% | $10 876 019 587 |  |
|
| 14 |  WTRX |
Wrapped TRON predictions | 82.4% | 34 | $0.124346 | -0.16% | -2.04% | $10 873 816 642 |  |
|
| 15 |  WBTC |
Wrapped Bitcoin predictions | 87.2% | 17 | $66 888.83 | 1.97% | 9.93% | $10 400 984 474 |  |
