Yes, Bitcoin Is Still Struggling Below $58,000

 2021-11-25 09:09:56

Bitcoin is still in a correction and it is trying to go up to $58,000. From the chart, we can see that BTC could trade higher if it breaks the current $58,000 resistance line. Moreover, it is trading above the 100 hourly moving average while below the 100SMA yesterday. It is a great potential that Bitcoin could catch up with $58,000 today. Now, $56,500 becomes a strong support line for BTC/USDT.

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However, Bitcoin could also keep trading below $58,000 again today if most investors would like to hold their coins for a bit longer time. Now the RSI line is above 50-level, there might be another slight dip within the following hours.

 

Technical indicators:

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

Hourly RSI  – The RSI is above the 50-level.

Major Support Levels – $56,500, followed by $56,000.

Major Resistance Levels – $58,000, $58,500 and $60,000.

 

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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