Weekly Bitcoin Technical Analysis (November 22th, 2021)
research.stc.capital
Weekly Bitcoin Technical Analysis (November 22th, 2021)
History for the week (From 15-21th/Nov, 2021)
Opening price: $65,519, closing price: $58,622 => Spread is $6897, down about 10.5%).
Highest price: $66,401, lowest price $55,600 => Spread is $10,801 (According to data from Binance exchange).
Technical Analysis
BTC/USDT weekly chart
Bitcoin is witnessing a tough tussle near the $65,000 and the bears finally prevailed and pushed Bitcoin price to the 58k zone. If the pair break below $58k, the next stop could be the strong support zone at $51k to $45,4k.
BTC/USDT daily chart
On the daily chart, Bitcoin price and indicators (MACD) are showing a correction with the support on the trend line at 51k price area. However, the price still has the support at the bottom on the 11th, November ($56,8k). Market trend will get worse if the bears continue to dominate and pull the price to 51k.
Goodluck.