Bitcoin (BTC) Price Analysis for November 16
Cover image via www.tradingview.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Bears are becoming more powerful, according to CoinMarketCap.

Top coins by CoinMarketCap

BTC/USD

Unlike other coins, the rate of Bitcoin (BTC) has risen by 1.33% over the last day.

Image by TradingView

On the hourly chart, the price of BTC might have found a local support level of $36,701. However, if the sellers’ pressure continues, traders are likely to expect a further drop to the $36,500 zone soon.

Image by TradingView

Bulls could not keep the rise after yesterday’s bullish bar closure. If the situation does not change by the end of the day, there is a chance to see a test of the recently formed support of $35,388 by the end of the week.

Image by TradingView

From the midterm point of view, it is too early to make any predictions, as the price of BTC does not have enough energy for a further move.

However, if the rate gets back to the $38,000 area and fixes there, one can expect a resistance breakout, followed by a test of the vital zone of $40,000 shortly.

Bitcoin is trading at $36,552 at press time.

5 thoughts on “Bitcoin (BTC) Price Analysis for November 16”
  1. Wow, marvelous weblog format! How lengthy have you been blogging for?
    you make blogging look easy. The full glance of your website is excellent, let alone
    the content material! You can see similar here e-commerce

  2. This is really interesting, You are a very skilled blogger.
    I’ve joined your rss feed and look forward to seeking more of
    your fantastic post. Also, I have shared your web site in my social networks!
    I saw similar here: E-commerce

  3. Howdy! Do you know if they make any plugins to assist with Search Engine Optimization? I’m
    trying to get my site to rank for some targeted keywords but I’m not
    seeing very good results. If you know of any please share. Thanks!
    I saw similar text here: GSA Verified List

  4. Hey! Do you know if they make any plugins to assist with
    SEO? I’m trying to get my site to rank for some targeted keywords but I’m not seeing very good gains.
    If you know of any please share. Many thanks! You can read similar blog here:
    Escape room list

  5. I will immediately clutch your rss feed as I can’t find your e-mail subscription link or newsletter service. Do you’ve any? Please let me recognize so that I may just subscribe. Thanks!

Leave a Reply

Your email address will not be published. Required fields are marked *