Technical Analysis for BTCUSD for 12th November 2021

There might be pockets of weakness as per the BTC/USDT technical analysis in the daily chart. 

Nonetheless, yesterday, BTC buyers absorbed the selling pressure of November 10, plugging the bleed and providing the much-needed support. 

As long as BTC prices trend above $64k—H1 2021 highs--, buyers have a chance. 

In that case, risk-off traders may load the dips in anticipation of price expansion to $67k and even better in the days ahead.

Despite the drawdown of the last three days, the BTC price is trading within a bullish breakout pattern above the pennant. 

This follows the sharp gains of early November. 

In the days ahead, every low may offer entry. 

However, this outlook is valid above $64k. If buyers flow back, BTC prices may float to $67k in a buy trend continuation pattern. 

Conversely, sustained losses below $64k could trigger liquidation, forcing BTC/USDT back to $60k—or lower. 

This will be as BTC price action finds equilibrium following the overextension of November 9. 

Then, BTC/USDT prices closed above the upper BB, signaling over-valuation--which was corrected on November 10.