Bitcoin (BTC) Daily Price Forecast – November 15

2018-11-15 08:46

BTC/USD Medium-term Trend: Bearish

Resistance Levels: $6,800, $6,900, $7,000
Support levels: $5,600, $5,400, $5,200

Yesterday, November 14, the price of Bitcoin was in a bearish trend. The crypto's price had a bearish breakout from the $6400 price level. The bearish breakout broke three levels of price namely the $6,400, $6,200 and the critical support level of $6,000. This development will weaken the price of Bitcoin. The price of Bitcoin fell and it is approaching the $5,700 price level. Traders should look out for buy setups as price hovers around the $5,700 price level.

A long trade is recommended at this early stage so that traders will earn partial profits as the crypto's price revisit the previous highs. Meanwhile, the crypto’s price is below the 12-day EMA and the 26-day EMA indicating that price is in the bearish trend zone. The MACD line and the signal line are below the zero line which indicates a sell signal.

BTC/USD Short-term Trend: Bearish

On the 1-hour chart, the price of Bitcoin is in a bearish trend. The BTC price fell to the low of $5,760.65 and the crypto's price is consolidating at that price level. Also, the crypto’s price is below the 12-day EMA and the 26-day EMA indicating that price is in the bearish trend zone. The MACD line and the signal line are below the zero line which indicates a buy signal.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

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price bearish levels support bitcoin level breakout

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