Bitcoin (BTC/USD) Market Pushes Upside at $65,000 Upper Range-Line
Bitcoin Price Prediction – November 15
It indicated that the BTC/USD market pushes slightly upside at $65,000 upper range-line after experiencing a smaller volume of downward force. The crypto-economic market currently trades around $65,813 at a relative amount of about 0.15 negative. That denotes that the market has hit a resistance line.
BTC/USD Market
Key Levels:
Resistance levels: $67,500, $70,000, $72,500
Support levels: $62,500, $60,000, $57,500
BTC/USD – Daily Chart
The BTC/USD daily chart shows that the crypto-economic market pushes upside at $65,000 upper range-line featuring a smaller top shadow bearish candlestick to signify a kind of relaxation in the northward movement presently. The range-bound lines drew across the smaller SMA trend line at the tail end. The 50-day SMA indicator is underneath the 14-day SMA indicator. The Stochastic Oscillators have traveled southbound to cross back the lines northbound within ranges of 20 and 40. That portends the possibility that the market may still go slightly mooning.
What level could now serve as the critical support baseline as the BTC/USD market pushes upside at $65,000 upper range-line?
The level marked at $60,000 could serve as the critical support baseline as the BTC/USD market pushes upside at $65,000 upper range-line currently. It could be difficult for long-position takers to ride on the subsequent upward pressure that can start over that range value-line regarded upper. Such a decision could run into being whipsawed, especially when a quick-violent retracement dominates the market operations at a higher trading zone afterward.
On the downside, the BCH/USD market short position takers have to look at a higher previous price rejection trading area to observe if the history of returning to a downward force builds up to generate sell orders before considering re-launching their stances again. The resistance levels at $67,500 and $70,000 will be of great instruments in that scenario playing out in the subsequent trading sessions if the price will have to extend northward higher with active forces.
BTC/USD 4-hour Chart
The BTC/USD 4-hour chart reveals that the crypto market pushes upside at $65,000 upper range-line. As of writing, a line of smaller 4-hour candlesticks has formed to denote a pause in the market movement a bit over the value line. The 14-day SMA indicator is above the 50-day SMA indicator. The Stochastic Oscillators are in the overbought region, stylishly moving in a consolidation manner. That suggests that the crypto economy is taking time to decide the next definite direction around the value-point earlier mentioned.
Looking to buy or trade Bitcoin (BTC) now? Invest at eToro!
68% of retail investor accounts lose money when trading CFDs with this provider.
Read more: