Continuation of the apocalypse or growth point?Analytics BTC/USD
BUY:
SELL:
STOP-LOSS: -
Support:
Resistance:
On November 14, the Bitcoin price came out of the long sideways trend, breaking through the support line at the level of 5800. After that, the rate did not show significant fluctuations for 4 days. Note at that moment long deals prevailed. But the price failed to consolidate at those levels and fell down with increased volumes.
On November 20, the BTC price on Bitfinex was formed this year min at 4303. The fall was caused, first of all, by the lack of interest of buyers, and not by the activity of sellers. Buyers became active only at the moment of formation of a minimum.
The negative point is the low trading volumes at this stage. This may be the reason for the slow situation progress, which further aggravates context.
November 21, we expect the close of the trading day at 4900. This is due to the fact that yesterday the price pierced the line of 5021 twice, which weakened resistance at 4890. If the price consolidates above 4900, this indicates the beginning of the upward trend formation. At the moment, the buyers' interest zone is 4609 - it should become a support line. If the price breaks through it - will possible updating the minimum.
In our opinion, the current fall is an artificially provoked case, the assets behavior was deliberately led to last year’s model. It seems that the manipulators have left the market today and the price is formed solely on the basis of market expectations.
SELL:
STOP-LOSS: -
Support:
Resistance:
On November 14, the Bitcoin price came out of the long sideways trend, breaking through the support line at the level of 5800. After that, the rate did not show significant fluctuations for 4 days. Note at that moment long deals prevailed. But the price failed to consolidate at those levels and fell down with increased volumes.
On November 20, the BTC price on Bitfinex was formed this year min at 4303. The fall was caused, first of all, by the lack of interest of buyers, and not by the activity of sellers. Buyers became active only at the moment of formation of a minimum.
The negative point is the low trading volumes at this stage. This may be the reason for the slow situation progress, which further aggravates context.
November 21, we expect the close of the trading day at 4900. This is due to the fact that yesterday the price pierced the line of 5021 twice, which weakened resistance at 4890. If the price consolidates above 4900, this indicates the beginning of the upward trend formation. At the moment, the buyers' interest zone is 4609 - it should become a support line. If the price breaks through it - will possible updating the minimum.
In our opinion, the current fall is an artificially provoked case, the assets behavior was deliberately led to last year’s model. It seems that the manipulators have left the market today and the price is formed solely on the basis of market expectations.
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