Bitcoin Analysis for 2019-11-26 [Premium]

Bitcoin Analysis for 2019-11-26 [Premium]
фото показано с : beincrypto.com

2019-11-27 14:04

The Bitcoin price initiated a bounce on November 25. It failed to reach a close above the resistance area at $7400. It is possible that the price drops to the support area at $7000 before making another attempt at a breakout.

Bitcoin Price Highlights The Bitcoin price failed to create a morning star pattern. There is resistance at $7400. There is support at $7000. The price might create a reverse head and shoulders pattern. Failed Morning Star

On November 23, the Bitcoin price bounced on the support line of the channel for the second time. This movement was combined with a bullish divergence in the RSI.

However, the ensuing increase stopped once the Bitcoin price reached the resistance line at $7400. Additionally, since the price failed to reach a close above the opening price of the previous bearish candlestick ($7300), it failed to create a morning star pattern.

The two long upper wicks near the resistance area are a sign of selling pressure. Unless the price flips the area and uses it as support, we can expect the Bitcoin price to drop towards the support line.

If the Bitcoin price reaches the support line and creates even more bullish divergence, it would be a very suitable place to initiate a long position.

Reverse Head and Shoulders

Looking at lower time-frames, we can see that the Bitcoin price has previously flipped the $7000 area as support. Therefore, we could revisit those levels before the price makes another breakout attempt.

This movement would complete the right shoulder of a reverse head and shoulders pattern.

For our previous analysis, click here.

Disclaimer: This article is not trading advice and should not be construed as such. Always consult a trained financial professional before investing in cryptocurrencies, as the market is particularly volatile.

Images courtesy of Shutterstock, TradingView.

Did you know you can trade sign-up to trade Bitcoin and many leading altcoins with a multiplier of up to 100x on a safe and secure exchange with the lowest fees — with only an email address? Well, now you do! Click here to get started on StormGain!

The post Bitcoin Analysis for 2019-11-26 [Premium] appeared first on BeInCrypto.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 95101.09 (-0.10%)
Объем 24H $42.95b
Изменеия 24h: -2.03 %, 7d: -9.30 %
Cегодня L: $94782.14 - H: $95637.28
Капитализация $1882.985b Rank 1
Цена в час новости $ 7458.22 (1175.12%)

bitcoin price area failed premium 2019-11-26 analysis

bitcoin price → Результатов: 126


Extremely Bullish 88-Day Structure Appears On Bitcoin Price Chart After Hitting $105,000 ATH

The Bitcoin price has continued its foray above the $100,000 threshold and is currently trading around new all-time highs. Following its recent surge to an all-time high (ATH) above $106,000, the Bitcoin price has played out an interesting pattern on the 1-day candlestick timeframe, which points to an extremely bullish outlook for the leading cryptocurrency.

2024-12-16 11:30


Bitcoin Price Alert: Expert Warns Of Upcoming 25% Drop, Timing And Trends Explained

After reaching a new all-time high of $99,600 last Friday, the Bitcoin price has retraced to the $94,000 mark for the first time in nearly a week. This pullback comes amid growing speculation about a possible correction following a massive three-week uptrend that saw the leading crypto surge by 40% after Donald Trump’s election on November 5.

2024-11-26 10:30


Фото:

Post-halving 2024 market is pushing Bitcoin’s price, not just Trump, says Onramp Bitcoin co-founder

The last Bitcoin halving took place in April when the block reward dropped from 6.25 Bitcoin to 3.125 Bitcoin Jesse Myers said Bitcoin’s price needs to go higher for a “supply-demand price” balance to happen When that occurs, the market will “flywheel into mania and a bubble,” which happened in the 2012, 2016, and 2020 […] The post Post-halving 2024 market is pushing Bitcoin’s price, not just Trump, says Onramp Bitcoin co-founder appeared first on CoinJournal.

2024-11-13 17:39