Bitcoin Price Analysis — November 21
Following the recent plunge to the $53,760 low, which aligned with my previous $56,100 - $53,755 pivot zone, BTC recorded a mild bullish recovery near the $60,000 mark, although recorded a minor dip to the upper-$58,000 area earlier today. This minor correction aligns with my eleven-day-long descending channel, indicating that this channel is crucial to the near-term price action of BTC. That said, as long as the benchmark cryptocurrency holds above the $58,000 support, we could expect to see a break above the $60,000 barrier soon. However, failure to sustain itself above the cryptical $58,000 level could trigger another correction to the base of my channel at $54,000.
Meanwhile, my resistance levels are at $60,000, $61,000, and $61,785, and my key support levels are at $58,000, $57,500, and $56,700.
Total Market Capitalization: $2.64 trillion
Bitcoin Market Capitalization: $1.11 trillion
Bitcoin Dominance: 42.3%
Market Rank: #1
Meanwhile, my resistance levels are at $60,000, $61,000, and $61,785, and my key support levels are at $58,000, $57,500, and $56,700.
Total Market Capitalization: $2.64 trillion
Bitcoin Market Capitalization: $1.11 trillion
Bitcoin Dominance: 42.3%
Market Rank: #1
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.