Technical analysis by FermiParadox about Symbol BTC: Buy recommendation (11/2/2021)

As BTC did not yet retrace to the 54K level (a scenario expected by many, including me), traders currently seem to shy away from taking bold long positions. On the other hand, the "end-of-cycle mantra" & increasing FIAT money inflation will prevent sell offs. I expect the mantra & inflation to be the stronger force. So a break of the resistance around 62K, followed by a first move to 72K, seems very likely to me.