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Bitcoin Price Prediction: BTC/USD Resumes Rally, Reaches a Striking Distance Against the $20,000 Psychological Price Level

Bitcoin Price Prediction: BTC/USD Resumes Rally, Reaches a Striking Distance Against the $20,000 Psychological Price Level

Bitcoin (BTC) Price Prediction – November 25, 2020
Yesterday, Bitcoin rebounded above $18,400 as price broke the $18,800 overhead resistance. BTC price rallied to $19,400. The king coin is now a striking distance to the psychological price level. Today, BTC/USD is trading at $19,144 at the time of writing.

Resistance Levels: $13,000, $14,000, $15,000
Support Levels: $7,000, $6,000, $5,000

BTC/USD – Daily Chart

On November 24, Bitcoin resumed its rally as price rallied to $19,400. Before now BTC has been in a downward correction. The price has been fluctuating below the $18,800 resistance for the past four days. Buyers were unable to push BTC above the overhead resistance. Yesterday, a strong bounce above $18,400 propels the price to break the $18,600 and 18,800 resistances.

BTC is now trading above $19,000. After reaching the $19,400 resistance zone, BTC retraced and found support above the $18,850 price level. The coin has resumed upward move to retest the recent high. On the upside, if buyers can push BTC above $19,400, the coin will rally above $20,200. In the previous price action at the $18,800 resistance, BTC took more than three days of correction before resuming upside momentum.

Bitcoin (BTC) Indicator Reading
Bitcoin is at level 80 of the Relative Strength index period 14. Since October 21, BTC has been trading in the overbought region of the market. The coin has been trading in a strong bullish momentum. However, the overbought conditions do not hold as BTC has been trading in a strong trend market. The 21-day and 50-day moving averages are pointing northward indicating the uptrend

BTC/USD – 2 Hour Chart

Nevertheless, Bitcoin has resumed the upside momentum as bulls break the $18,800 resistance. Meanwhile, the Fibonacci tool indicates a possible upward move of the coin. On November 24 uptrend; the retraced candle body tested the 61.8% Fibonacci retracement level. This retracement indicates that the market will rise to level 1.618 Fibonacci extensions. In other words, Bitcoin will rise to $20,205 high.

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Bitcoin Price Prediction: BTC/USD Is Range-Bound Between $17,800 and $18,800, Upward Move likely

Bitcoin Price Prediction: BTC/USD Is Range-Bound Between $17,800 and $18,800, Upward Move likely

Bitcoin (BTC) Price Prediction – November 24, 2020
Following its recent retest at the $18,800 overhead resistance, buyers are yet to push BTC price above the overhead resistance. Rather the price movement has been confined within a price range. Yesterday, BTC/USD was repelled after failing to break above the $18,800 resistance.

Resistance Levels: $13,000, $14,000, $15,000
Support Levels: $7,000, $6,000, $5,000

BTC/USD – Daily Chart

Between November 21 and November 24 is about four days when BTC retested the $18,800 overhead resistance. In other words, Bitcoin has been in a downward correction for the past four days without resuming the upside momentum. We have seen in the previous price action that Bitcoin uses about a day or three days correction before resuming uptrend. In the meantime, Bitcoin is fluctuating between $17,800 and $18,800. The upward move of the coin has been impeded at the $18,800 resistance.

Bitcoin is currently facing rejection at $18,600 and $18,800. On the upside, a strong bounce above $18,400 will propel the price to break the resistance at $18,600 and $18,800. The momentum will extend above the $19,000 high. However, where the upside momentum fails to resume, sellers will take advantage to break below the $17,800 support. This will sink the coin to either $17,400 or $16,600 low

Bitcoin Goes up While Coinbase Goes Down: Exchange Outages and Trader Outrage
Many users have indicated that when Bitcoin and other crypto assets are volatile, the exchange sometimes goes offline without warning. According to reports, these outages can prevent customers from buying or selling their crypto assets. In view of this, Coinbase has suffered multiple outages since March. For example, between March and November, the exchange recorded nine different issues leading to various types of outages or connectivity problems. In all these, the impact on the customer is unclear.

BTC/USD – 4 Hour Chart

Meanwhile, Bitcoin is not trending at the time of writing. BTC price is still fluctuating in a confined range. On the upside, if the BTC price breaks the resistance at $18,800, a rally above $19,500 is expected. Nevertheless, on November 18 uptrend; the retraced candle body tested the 78.6% Fibonacci retracement level. This implies that the market will rise to level 1.272 Fibonacci extensions or $19,142.0 and reverse. However, the reversal will not be immediate.

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Litecoin Price Prediction: LTC/USD Breaks Overhead Resistance at $84 but Shows Little Strength on the Upside

Litecoin Price Prediction: LTC/USD Breaks Overhead Resistance at $84 but Shows Little Strength on the Upside

Litecoin (LTC) Price Prediction – November 23, 2020
LTC/USD has broken above the overhead resistance at $84. The uptrend has been repelled as price fluctuates between $78 and $87.50.In a nutshell, the LTC/BTC is in an uptrend as the crypto reached a high of Ƀ0.004600.

LTC/USD Market

Key Levels:
Resistance Levels: $80, $100, $120
Support Levels: $50, $40, $20

LTC/USD – Daily Chart

On November 21, LTC rebounded to break the overhead resistance at $84. The bulls could not continue with the uptrend as it was repelled at $87.50. In the meantime, price is fluctuating between $78 and $87.50. For the upside momentum to resume, buyers have to sustain the bullish momentum above the $84 support. A rebound above the $84 support will propel price to reach the $100 high. Conversely, if they fail to hold the $84 support, the crypto will slide down to $76 support.

Subsequently, the downtrend will resume. Presently, LTC is fluctuating in the price range as the bulls and bears decide the next move.Meanwhile, there is a possibility of the coin rising if the current resistance is broken. On November 18 uptrend the coin was resisted. The retraced candle body tested the 78.6% Fibonacci retracement level. This implies LTC will rise and reverse at level 1.272 Fibonacci extensions. That is the high of $86.84

Litecoin Indicator Analysis
The price bars are well above the SMAs which indicates a possible rise of the coin. However, if price breaks below the SMAs the coin is likely to fall. LTC is above the 40% range of the daily stochastic. It implies that the coin is in a bullish momentum.

LTC/BTC – 4 Chart

On the LTC/BTC chart, the crypto is in an uptrend. The price of the coin is making a series of higher highs and higher lows. The crypto has risen to level Ƀ0.004600. There are chances of further upward movement of the coin. On the November 19 uptrend, a retraced candle body tested the 50% Fibonacci retracement level. It indicates that the market will rise to level 2.0 Fibonacci extension or Ƀ0.005283 high.

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Bitcoin Price Prediction: BTC/USD Consolidates Below $18,800 Resistance, Targets the Psychological Price Level of $20,000

Bitcoin Price Prediction: BTC/USD Consolidates Below $18,800 Resistance, Targets the Psychological Price Level of $20,000

Bitcoin (BTC) Price Prediction – November 22, 2020
BTC/USD is consolidating above $18,400 but below the $18,800 resistance. The bulls are preparing to push BTC above the $20,000 psychological price level. This is given the fact that the current support holds above $18,400. Nonetheless, the current price range is likely to be broken when the bullish momentum resumes.

Resistance Levels: $13,000, $14,000, $15,000
Support Levels: $7,000, $6,000, $5,000

BTC/USD – Daily Chart

Since November 20, the $18,400 support has been holding each time price corrects and retest the support level. This is an indication that the bulls are currently defending the price level. The upside momentum will resume if the current support remains unbroken. Presently, if the bulls can push the coin above the $18,800 resistance, BTC will rally to the next resistance at $19,500. The current consolidation will continue if the $18,800 resistance remains unbroken. Nevertheless, in all upside momentum, Bitcoin price correction takes less than 3 days. Thereafter, the bullish momentum will resume or a breakout will occur to propel the coin upward.

Bitcoin Less Volatile than many stocks by Van Eck
Van Eck is an investment management firm manager. He has released new research indicating that Bitcoin’s price movements are less volatile than a third of the stocks listed on the S&P 500. According to him,” the reality shows that the world’s largest cryptocurrency trades with volatility comparable to that of some of the largest companies in the world”. He indicated that every year, 29% of S&P 500 stocks experienced more volatile price fluctuations than the digital currency, while 22% did the same on a 90-day basis, said, Van Eck. The company has advised institutional investors to have Bitcoin on their books.

BTC/USD -4 Hour Chart

Meanwhile, BTC is stalled below the $18,800 resistance. The Fibonacci tool analysis will hold if the current resistance is breached. Otherwise the coin will continue the sideways move below the resistance. A breakout at $18,800 will propel the price to resume the upside momentum. Bitcoin is expected to reach the 1.272 Fibonacci extensions or the high of $19,160.90. Thereafter the next target will be the $20,000 psychological price level.

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