RATE Group | Bitcoin Weekly Forecast: BTC Aiming Key $6.5K Support
69696
post-template-default,single,single-post,postid-69696,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Bitcoin Weekly Forecast: BTC Aiming Key $6.5K Support

24 Nov Bitcoin Weekly Forecast: BTC Aiming Key $6.5K Support

Posted at 05:25h in Bitcoin News by

[ad_1]

  • There was a sharp decline in bitcoin below the $8,000 and $7,500 supports against the US Dollar.
  • The price is currently correcting losses, but remains at a risk below $7,400.
  • There is another breakdown pattern forming with support near $7,240 on the 4-hours chart of the BTC/USD pair (data feed from Kraken).
  • The price is currently trading below the $7,500 resistance and likely to decline further.

Bitcoin price is trading in a strong downtrend below $7,500 against the US Dollar. BTC is likely to continue lower towards the main $6,500 bearish target.

Bitcoin Price Weekly Analysis (BTC)

This past week, bitcoin started a nasty decline below the $8,000 support area against the US Dollar. As a result, BTC price gained bearish momentum below the $7,800 support and the 100 simple moving average (4-hours).

It opened the doors for more losses and the price even declined sharply below the $7,500 support. Moreover, the price tested the $7,000 support area (the first bearish target as per the medium…

[ad_2]

Source link

Tags:
, , , , , , ,