In this video: Many of you asked how we buy into a correction. Here is a simple Elliott Wave approach to accumulating in tranches, plus the levels that matter for Bitcoin this week.
We analyse Bitcoin on 1 November 2026 using Elliott Wave. Bitcoin remains under pressure but is still holding above the 50-week SMA, a very important support. We see the correction that started more than a month ago as a pullback in a large uptrend, and the decline does not look fully complete yet, so a few more lows into the support zone are possible. Video by More Crypto Online.
Visit Trading Platform >>
A direct breakout would need at least a break above the last October high at around $82,050. In this video we show a schematic example of buying in four tranches: 15% when the support zone is reached, 25% when a technical level like the B-wave high is reclaimed, 35% in the first 3-wave pullback after 5 waves up, and the last 25% in the real breakout. The percentages are an example, not a recommendation. On the smaller timeframe, Bitcoin is bouncing in a possible wave 4 below resistance at $78,375 to $79,050, and a rejection there could lead to one more low.
New to trading? Join iqoption for free educational materials, a risk-free demo account, and a low minimum deposit($20). Start your journey in the financial markets now!
Learn more >>
Bitcoin Insights Today
• Democratic Lead Concerns: Early results showing strong Democratic momentum have rattled crypto investors. Markets fear that a Democratic-controlled Congress will stall pro-crypto bills—specifically the CLARITY Act—and introduce more stringent regulations.
• The "Gridlock" Effect: Broad macro markets saw a decline in U.S. stock futures and the dollar, showing a risk-off sentiment that heavily suppressed speculative assets like Bitcoin.
• Binance Inflow Risk: The market is still heavily weighed down by last week's $6.3 billion exploit of Binance. While Binance has reopened withdrawals, users have already pulled a net $4.72 billion from the platform. The attacker’s stolen 18,270 BTC are being tracked across 19 addresses; any movement toward exchanges could spark aggressive sell-side pressure.
• Fresh Exploits: Adding to the anxiety, Brazil's largest exchange, Mercado Bitcoin, confirmed a security incident involving $40 million to $46 million drained from hot wallets, forcing a temporary suspension of deposits and withdrawals.
Buy, sell, and store over 400 digital assets at one of Europe’s leading exchanges. Crypto trading and staking made simple!
Learn more >>
