BTC/USD Declines as Bitcoin Slumps to $55k – November 30, 2021
BTC/USD is now confirmed to be in a range-bound move as Bitcoin slumps to $55K . Bitcoin fluctuates between $56,200 and $59,000 price levels. The range-bound move has caused buyers to retest the $59,000 resistance level on five occasions. The rejection was caused by prices reaching the overbought region of the market.
Resistance Levels: $70,000, $75,000, $80,000
Support Levels: $50,000, $45,000, $40,000
Following the recent range-bound movement between $56,200 and $59,000, Bitcoin has fallen above the $56,200 support. For the past four days, the bears have been defending the $59,000 resistance zone. Assuming, buyers are successful above the recent high. BTC price will attempt to retest or break the $60,000 psychological price level.
When this level is breached, BTC/USD will commence the resumption of upside momentum. BTC price will rally … Read more