Bitcoin (BTC) Price Prediction – November 19, 2020
Following the recent high at $18,500, BTC/USD now fluctuates between $17,300 and $18,200. For the past two days, BTC has been consolidating above $17,300 but has retested the resistance at $18,200 twice. By retesting the $18,200 resistance, is an indication of further upside momentum.
Resistance Levels: $13,000, $14,000, $15,000
Support Levels: $7,000, $6,000, $5,000
The recent price surge to $18,500 was met with a sharp downward correction. In the process of correction, the crypto has formed a price range between $17,300 and $18,200. For the upside momentum to resume, the price must be sustained above $17,500. This will provide a continuous retest of the $18,200 resistance. In other words, if the price consolidates above $17,500, it will increase the possibility of a breakout near the resistance zone.
On the upside, if the price breaks the $18,200 resistance, … Read more