Bitcoin BTC/USD ends the trading week at 64385, continues to move as part of a sideways correction and a bullish channel. Moving averages indicate a bullish trend. Prices went up from the area between the signal lines, which indicates pressure from buyers of the asset and the potential continued growth of the asset’s quotes. At the moment, we should expect an attempt to develop a correction and test the support area near the level of 55605. Where can we expect a rebound and a continuation of the rise in the Bitcoin exchange rate with a potential target above the level of 76505.
Bitcoin Forecast and Analysis November 15 — 19, 2021
An additional signal in favor of the growth of BTC/USD quotes in the current trading week on November 15 — 19, 2021 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 index (RSI). Cancellation of the Bitcoin growth option will be a fall and a breakdown of the 48205 area. This will indicate a breakdown of the support area and a continued fall in BTC/USD quotes with a potential target below 42055. Confirmation of the development of a bullish movement will be a breakdown of the resistance area and closing of quotes above 65565.
Bitcoin Forecast and Analysis November 15 — 19, 2021 suggests an attempt at a support area near the level of 55605. Then, the cryptocurrency will continue to rise to the area above the level of 76505. An additional signal in favor of the growth of the Bitcoin rate in the current trading week will be a test of the trend line on the relative strength index (RSI). Cancellation of the option to raise Bitcoin cryptocurrency quotes will be a fall and a breakdown of the 48205 area. In this case, we should expect a continued decline with a target at 42055.
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