Bitcoin Price Analysis — November 30

As I projected in the previous analysis, BTC recorded a spike to the upper-$58,000 yesterday but encountered a snag below the $59,000 resistance, which sent the price to the $56,000 pivot top. That said, the benchmark cryptocurrency has posted a decent rebound to the $57,000 area as the broader market shakes off the previously bearish sentiment. A break above the 57,500 (descending trendline) over the coming hours should secure a bullish foundation for the flagship cryptocurrency as we head into the last month of the year. As a caveat, any bearish push should get repelled by the $56,000 - $53,755 pivot area.

Meanwhile, my resistance levels are at $57,500, $58,000, and $59,000, and my key support levels are at $56,700, $56,000, and $55,000.

Total Market Capitalization: $2.63 trillion

Bitcoin Market Capitalization: $1.08 trillion

Bitcoin Dominance: 41.4%

Market Rank: #1