$89K: A New All-Time High as the Bull Flag Completes

Bitcoin has surged 10% since yesterday’s Morning Note, reaching a new all-time high of $89,000 USD. The $88,000 level was significant as it marked the target of a long-awaited bull flag pattern.

This pattern has been forming since March, rewarding patient investors who showed conviction through several 20-30% pullbacks over the past eight months. Since the September low of $52,500—just 66 days ago—Bitcoin has rallied an impressive 70% to its current levels.

Bitcoin dominance has also climbed back above 60%, signaling that we are still in phase one of the bull market. This means it’s still early—could we see Bitcoin hit $100,000 by the end of the week? Given its performance over the last several days, such a milestone would hardly come as a surprise.

If you feel underexposed or worry about missing out, now is a good time to bolster your Bitcoin position before the new all time highs are made. You’re still early, and if you have long-term confidence in the crypto space, this is an ideal time to enter. Contact your Stormrake Crypto Broker to seize these golden opportunities.

Stormrake Spotlight: RUNE ($6.50)

Thorchain (RUNE) represents a leap forward in the already innovative crypto space. As a decentralized cross-chain infrastructure, Thorchain facilitates asset transfers across blockchains like Bitcoin, Ethereum, and BNB Chain. Currently ranked #54 by total market cap, RUNE peaked at $20.95 in 2021. In the upcoming altseason, RUNE could attempt a new all-time high, representing a potential 220% increase from its current price.

BTC/USD Key Levels and Price Action:

Bitcoin has set another all-time high without any major pullback, showing nine consecutive hours of green candles and a 9% rally. The 21 EMA remains a key support level as Bitcoin targets $100,000.

BTC Total ETF Flows for 11 Nov: $ + 105.2 million

ETH/USD Key Levels and Price Action:

Ethereum has shown continued strength, reaching the next resistance level at $3,370 before being rejected. Unlike BTC, ETH touched the 21 EMA on its recent pullback but has since bounced back. With its key support and resistance levels converging, ETH appears poised for a breakout—likely to the upside.

ETH Total ETF Flows for 11 Nov: $ + 78.9 million

Written by Alexandar Artis

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