You are here
Home > Bitcoin > Bitcoin Bulls Wrestle To Reclaim $60k as Bitcoin Faces Rejection

Bitcoin Bulls Wrestle To Reclaim $60k as Bitcoin Faces Rejection


BTC/USD Fluctuates Between $55.8k and $60k as Bitcoin Faces Rejection -November 21, 2021

Bitcoin (BTC) value continues a downward transfer under the shifting common as Bitcoin faces rejection. The implication is that BTC/USD could revisit the $50,000 psychological value degree. The bears have damaged under the earlier low at $58,000. As we speak, Bitcoin is buying and selling at $59,742 on the time of writing.

Resistance Ranges: $70,000, $75,000, $80,000
Assist Ranges: $50,000, $45,000, $40,000

Bitcoin (BTC) Price Prediction: Bitcoin Bulls Struggle To Reclaim $60k as Bitcoin Faces Rejection
BTC/USD – Every day Chart

Following the breakdown under the shifting averages, BTC value was liable to additional downward motion of costs. Yesterday, Bitcoin declined to the low of $55,600 as bulls purchased the dips. BTC value corrected upward and reached the excessive of $59,000. The upward correction was rejected on the latest excessive which resulted in an additional downward motion of the cryptocurrency. As we speak, BTC value fluctuates between $55,600 and $59,000.

The market will additional decline if the bears break under the $55,600 help. Bitcoin will additional decline to $54,000 or $51,400. Then again, if patrons preserve BTC costs above $59,000, a rally above $60,000 is probably going. Within the meantime, the BTC value has damaged above the latest excessive approaching the 50-day line shifting common. The cryptocurrency will regain bullish momentum if value breaks above the shifting averages. Nonetheless, If bulls fail to push and maintain the worth above the shifting averages, the promoting stress could resume.

Bitcoin (BTC) Indicator Studying

Bitcoin has fallen to degree 46 of the Relative Energy Index for interval 14. The cryptocurrency remains to be within the downtrend zone after the latest breakdown. It’s liable to additional decline as it’s the bearish pattern zone and under the centerline 50. The crypto’s value remains to be under the shifting averages which trigger Bitcoin to fall. A break above the 21-day line and the 50-day line shifting averages will propel Bitcoin to renew upside momentum. BTC/USD has resumed bullish momentum as it’s above 80% space of the each day stochastic.

 Bitcoin (BTC) Price Prediction: Bitcoin Bulls Struggle To Reclaim $60k as Bitcoin Faces Rejection
BTC/USD – 4 Hour Chart

In the meantime, Bitcoin is rising after a latest downtrend as Bitcoin faces rejection. BTC value has damaged above the resistance at $59,000 as BTC value makes an attempt to rally above the $60,000 psychological value degree. The market will are likely to revisit the earlier highs of $64,000 and $67,000 if the present bullish momentum is sustained.

Trying to purchase or commerce Bitcoin (BTC) now? Make investments at eToro!

68% of retail investor accounts lose cash when buying and selling CFDs with this supplier

Learn extra:
•                   Find out how to purchase cryptocurrency
•                   Find out how to purchase Bitcoin



Supply hyperlink

Leave a Reply

Top