Bitcoin BTC/USD ends the trading week at the level of 76181 and continues to move within the development of growth and a bullish channel. Moving averages indicate the presence of an upward trend. Prices have broken through the area between the signal lines upwards, which indicates pressure from asset buyers and a potential continuation of the growth of asset quotes. At the moment, we should expect an attempt to develop a bearish correction in the coin price and a test of the support area near the level of 73605. From where we should again expect an upward rebound and continued growth of the Bitcoin rate with a potential target above the level of 95065.
Bitcoin Forecast and Analysis November 11 — 15, 2024
An additional signal in favor of the growth of BTC/USD quotes in the current trading week of November 11 — 15, 2024 will be a rebound from the lower border of the bullish channel. The second signal will be a rebound from the support line on the relative strength indicator (RSI). The Bitcoin fall option can be cancelled if it falls and breaks through the 65045 area. This will indicate a breakout of the support area and a continuation of the BTC/USD quotes fall with a potential target below the 56865 level. The development of the bullish movement will be confirmed by a breakout of the resistance area and closing of quotes above the 77865 level.
Bitcoin Forecast and Analysis November 11 — 15, 2024 suggests an attempt to break through the support area near the 73605 level. Then, the continuation of the growth of the cryptocurrency to the area above the 95065 level. An additional signal in favor of the rise in the Bitcoin rate this trading week will be a test of the trend line on the relative strength indicator. The Bitcoin cryptocurrency quotes growth option can be cancelled if it falls and breaks through the 65045 area. In this case, we should expect a continuation of the decline with a target at the 56865 level.
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