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BTC/USD Lacks Consumers at Increased Value Ranges as Bitcoin Faces Robust Rejection


BTC/USD Is Unable To Maintain Above $60k as Bitcoin Faces Robust Rejection- November 26, 2021

On November 25, BTC/USD rallied to $60,000 resistance zone as Bitcoin faces robust rejection. BTC value rallied to the excessive of $59,200 as value reached the overbought area. Presently, the BTC value is retracing from the latest excessive. Bitcoin is retracing as a result of the market reached an overbought area. The cryptocurrency is more likely to resume upward if value finds help above the transferring averages.

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

 Bitcoin (BTC) Price Prediction: BTC/USD Lacks Buyers at Higher Price Levels as Bitcoin Faces Strong Rejection
BTC/USD – Day by day Chart

Yesterday, Bitcoin rallied near the $60,000 psychological value degree however was repelled. BTC value traded and reached the excessive of $59,200. Equally, on November 20 and 21, patrons pushed BTC value to the $60,000 resistance however the market dropped sharply to $56,650 low. In the present day, BTC value is retracing on the draw back. If value retraces above the $58,000 help and rebounds, the $60,000 resistance can be breached. Bitcoin can be out of downward correction. BTC value will fall to the range-bound zone if the bulls fail to defend the $58,000 help. In earlier value motion, Bitcoin has been range-bound between $56,000 and $58,400 value ranges.

Bitcoin (BTC) Indicator Studying

Bitcoin has fallen to degree 44 of the Relative Power Index for interval 14. The king coin is buying and selling within the downtrend zone and able to falling on the draw back. It is usually beneath the centerline 50. BTC value is above the 80% space of the day by day Stochastic. The stochastic bands are sloping downward indicating that Bitcoin is retracing on the draw back. The cryptocurrency value bars are beneath the 21-day line and the 50-day line transferring averages indicating that Bitcoin is in a downward transfer.

 Bitcoin (BTC) Price Prediction: BTC/USD Lacks Buyers at Higher Price Levels as Bitcoin Faces Strong Rejection
BTC/USD – 4 Hour Chart

In the meantime, the BTC value is retracing after its rejection from the excessive of $59,200 as Bitcoin faces robust rejection. There’s a probability of Bitcoin falling to the range-bound zone. Consumers are dealing with robust rejection on the $60,000 resistance zone. On the upside, patrons have to interrupt above the transferring averages and clear the $60,000 resistance degree to renew up trending.

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