Bitcoin Price Prediction – November 19
The Bitcoin rate jumps above the assistance degree of $55,625 as the coin includes greater than $2000 to get to the existing worth.
BTC/USD Long-term Trend: Ranging (Daily Chart)
Key degrees:
Resistance Levels: $66,000, $68,000, $70,000
Support Levels: $50,000, $48,000, $46,000
BTC/USD is presently trading around $57,000 with a 1.68% gain in the previous 24-hour. According to the day-to-day graph, the Bitcoin rate is battling to remain above the crucial degree of $58,000 as it approaches the 9-day as well as 21-day relocating standards. However, for BTC/USD to stay above this obstacle for the following couple of days, the bulls require to make the $55,000 assistance degree to be quite solid.
Bitcoin Price Prediction: Could Bitcoin Price Break Higher?
Since the previous couple of days, the Bitcoin rate has actually been experiencing a sag, as well as if the king coin breaks listed below the reduced limit of the network, it might touch the closest assistance degree of $54,000. Moreover, Bitcoin (BTC) requires to redeem this crucial resistance degree to head upwards. If effective, the main cryptocurrency might consequently target at the $58,000 resistance degree.
However, considering the technological sign Relative Strength Index (14), one might end that BTC/USD is most likely to deal with even more drawbacks. Meanwhile, on the advantage, healing might not come very easy as well as investors should understand that the marketplace rate should remain within the network while various other crucial areas to remember are around $66,000, $68,000, as well as $70,000 resistance degrees. In various other words, any type of bearish motion listed below the network might touch the assistances at $50,000, $48,000, as well as $44,000.
BTC/USD Medium – Term Trend: Bearish (4H Chart)
On the 4-hour graph, the Bitcoin rate stays at the drawback as the technological sign Relative Strength Index (14) maintains relocating 40-level. Meanwhile, the coin might start the higher motion as quickly as the existing market price goes across above the 21-day relocating standard.
However, when this situation plays out, the marketplace rate might likely get to the resistance at $60,000 as well as above. On the contrary, if the existing market price goes down listed below the 9-day relocating standard, it might likely touch the assistance at $56,000 as well as below.
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