Standard Chartered Analyst: $69,000 to $76,500 Key Potential Support Area for Bitcoin

Standard Chartered analyst Geoff Kendrick is concerned about the short-term movement of Bitcoin and Strategy (formerly MicroStrategy) as the price of Bitcoin faces potential volatility near key support levels. Kendric points to the price range of 6 November 2024 (the day after the U.S. election) as a key potential support area for Bitcoin, with an expected price range between $69,000 and $76,500. He believes that Bitcoin's movement within this range could determine its short-term trend. He notes that if Bitcoin's price falls to the $69,000-$76,500 range, it will be closer to Strategy's average purchase price of $65,000, making it a key level to watch.