Monday, November 29 BTC price analysis: Is Bitcoin gaining strength again?
Crypto Mining – The positive development for BTC price analysis has been experienced since yesterday evening. So, is a new power-up coming?
Crypto Mining – Bitcoin has been on a steady decline since its peak on Wednesday, November 10. The leading cryptocurrency, which has lost up to 22 percent with the withdrawal over the weekend, is trying to heal its wounds. The positive development for BTC price analysis has been experienced since yesterday evening. So, is a new power-up coming?
The psychological level for Bitcoin, 60K, could not be tested for a week. Turning into a serious resistance zone, $60,000 has not been on the horizon for a long time. However, with the movement he started last night, he gave the green light to 60 thousand dollars again. It posed a big risk, staying below $55,000 in recent days.
BTC Price Analysis
Bitcoin lit a solid red candle on Friday, November 26. BTC, which was traded above $59,000, experienced a decrease of up to 10 percent. After this decline, it closed Saturday and Sunday with a green candle. He started the new day by lighting a green candle again. In the weekly candle, Bitcoin closed the last week with a red candle. The daily close for BTC price analysis came in above $57,000. The 57K close he made last night started a new increase.
Bitcoin, which has signed a new rise with $57,000 - 57,500, is showing signs of recovery. The price currently continues to trade above the 100 hourly simple average. In order for the BTC/USD pair to continue to rise, the 60K resistance must be broken.
Support and Resistance Levels
Bitcoin is based on $57,000 and $56,500 as the main support level. $58,000/58,500/60,000 are the closest support levels. The hourly RSI is in the overbought zone, while the MACD is gaining momentum.
With some serious strength gathering for BTC price analysis, it could extend into the $60,000 and then the $61,200 resistance zone. However, the first resistance zone, located in the $58,000 region, must be crossed. Otherwise, a decrease can be observed again.