BTC/USD are trading at 65459 and continue to move as part of the fall and the bullish channel. The capitalization of the Bitcoin cryptocurrency at the time of the publication of the forecast is $1,141,565,454,934. Moving averages indicate a short-term bullish trend for Bitcoin. Prices are again pushing the area between the signal lines, which indicates pressure from buyers of ”Digital Gold” and a potential continuation of the growth of the asset value from the current levels. As part of the cryptocurrency rate forecast for tomorrow, November 17, 2021, we should expect an attempt to develop a growth in the value of a digital asset and a test of the resistance level near the 64805 area. Where can we expect a rebound down again and an attempt to continue the fall in the Bitcoin rate with a target below the 46565 area.
Bitcoin Forecast and Analysis November 17, 2021
An additional signal in favor of a fall in BTC/USD quotes will be a test of the broken trend line on the relative strength index (RSI). The second signal in favor of this option will be a rebound from the lower border of the bullish channel, which the bears broke down. Cancellation of the option to drop the Bitcoin rate and value will be a strong growth in the value of the asset and a breakdown of the 69505 area. This will indicate a breakdown of the resistance area and continued growth of the Bitcoin rate with a potential target at 73505. Confirmation of the fall in the price of the asset will be a breakdown of the support area with the price fixing below the level of 56055.
Bitcoin Forecast and Analysis November 17, 2021 suggests an attempt to test the resistance level near the 64805 area. And further, the cryptocurrency will continue to fall with a potential target at 46565. An additional signal in favor of the Bitcoin rate decline will be a test of the resistance line on the relative strength index (RSI). Cancellation of the cryptocurrency fall option will be a strong growth and a breakdown of the 69505 area. This will indicate a continued rise with a potential target above the 73505 area.
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