Bitcoin Price Turns Red and Lingered $60,000

 2021-11-18 07:36:42

Bitcoin price extended decline below $61,000 and it even traded below the $60,000 support line. From the hourly chart, BTC is trading far below the 100 hourly simple moving average, and the price traded as low as $59,504 an hour ago.

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Now Bitcoin is consolidating losses and hovering around $59,500 - $60,000. Analysts of Bexplus think that the correction may last for a whole week before Bitcoin gets back to $67,000.

 

Furthermore, Bitcoin may dip to $59,000 if the bear dominates the market.

 

Technical indicators:

Hourly MACD – The MACD is now gaining pace in the bearish zone.

Hourly RSI  – The RSI is now below the 50-level.

Major Support Levels – $59,000, followed by $58,500.

Major Resistance Levels – $60,100, $61,000 and $62,000.

 

Tips: Quotes are time-sensitive, and please pay attention to take good risk control and make good use of "Take Profit" and "Stop Loss" tools.

 

DISCLAIMER: The analysis of cryptocurrencies in real-time should be taken for informational purposes only, and in no case should it be taken as an investment signal. Every investment and trading move involves risk. You should conduct your own research when making a decision.

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