Crypto Mining

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?

Monday, November 29 BTC price analysis: Is Bitcoin gaining strength again?

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.

btc price analysis

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.

Related Topics
Bitcoin (BTC) Technical Analysis

Bitcoin (BTC) Technical Analysis

Bitcoin (BTC) price peaked with the dollar on October 20, but the bulls were unable to sustain the breakout as bears pulled the price below the ...

Number of Bitcoin Holders Increasing in the US

Number of Bitcoin Holders Increasing in the US

13% of American adults currently hold crypto, according to a recent survey conducted by personal finance comparison site Finder.com. The results ...

Bitcoin's Value Dropping To Zero?

Bitcoin's Value Dropping To Zero?

Sir Jon Cunliffe, Deputy Governor of the Bank of England, made a shocking statement about Bitcoin, which has grown in popularity during the pandemic ...