Bitcoin BTC/USD ends the trading week at 54856, continues to move within the correction and the bullish channel. Moving averages indicate a bullish trend. Prices are again testing the area between the signal lines, which indicates pressure from buyers of the asset and a potential continuation of the growth of the asset’s quotes. At the moment, we should expect an attempt to develop a correction and a test of the support area near the level of 51055. Where can we again expect a rebound and a continuation of the rise in the Bitcoin rate with a potential target above the level of 73455.
Bitcoin Forecast November 29 — December 3, 2021
An additional signal in favor of the growth of BTC/USD quotes in the current trading week November 29 — December 3, 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 47405 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 40505. Confirmation of the development of the bullish movement will be the breakdown of the resistance area and closing of quotes above the level of 66505.
Bitcoin Forecast November 29 — December 3, 2021 assumes an attempt at a support area near the level of 51055. Then, the cryptocurrency will continue to rise to the area above the level of 73455. 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. Cancellation of the option to raise Bitcoin cryptocurrency quotes will be a fall and a breakdown of the 47405 area. In this case, we should expect a continued decline with a target at 40505.
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