Bitcoin BTC/USD ends the trading week at 18300 and continues to move within the growth and upward channel. Moving averages indicate a bullish trend. Prices went up from the area between the signal lines, which indicates pressure from the 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 17255. Where can we expect a rebound and continued growth in the Bitcoin exchange rate with a potential target above the level of 22350.
Bitcoin Forecast and Analysis November 23 — 27, 2020
An additional signal in favor of raising the BTC/USD quotes in the current trading week on November 23 — 27, 2020 will be a rebound from the upper border of the ascending channel, such a breakdown is a very strong signal for the continued growth of the asset. The second signal will be a rebound from the support line on the RSI indicator. Cancellation of the Bitcoin growth option will be a fall and a breakdown of the 12505 area. This will indicate a breakdown of the support area and a continued fall in BTC/USD quotes with a potential target below the level of 10505. Confirmation of the development of an upward trend will be a breakdown of the resistance area and closing of quotations above the level of 19855.
Bitcoin Forecast and Analysis November 23 — 27, 2020 suggests an attempt at a support area near the level of 17255. Then, the cryptocurrency will continue to grow to the area below the level of 22350. An additional signal in favor of the Bitcoin rate rise in the current trading week will be a test of the support line on the relative strength index (RSI). Cancellation of the growth option for Bitcoin cryptocurrency quotes will be a fall and a breakdown of the 12505 area. In this case, we should expect a continued decline with a target at 10505.
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