Bitcoin (BTC) Price Analysis for November 11

Bitcoin (BTC) Price Analysis for November 11

Bitcoin

Even though the day started with a market bounce back, the rates of some coins are still falling.

Bitcoin (BTC) Price Analysis for November 11

BTC/USD

The rate of Bitcoin (BTC) has risen by 0.40% over the last day.

Bitcoin (BTC) Price Analysis for November 11

On the hourly chart, Bitcoin (BTC) started the day with the false breakout of the local resistance level $17,964. At the time of writing, the price is stuck in a range where $15,722 serves the support level.

If the rate comes back to it, the fall may continue to the $15,000 zone.

Bitcoin (BTC) Price Analysis for November 11

On the daily chart, the situation is bearish as the price could not keep the rise after yesterday’s bullish candle. If the drop continues to $16,000, there are high chances to see the breakout of the recently formed support level at $15,632 soon.

Bitcoin (BTC) Price Analysis for November 11

From the midterm point of view, Bitcoin (BTC) is on its way to the next support level at $13,880 if the bulls cannot seize the initiative soon. However, if a bounce back above the $18,00 zone happens, one can expect the test of the mirror level at $21,000.

Bitcoin is trading at $16,890 at press time.

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