TL; DR failed
- Bitcoin price forecast expects price increase.
- The strongest support right now is $ 57,489.
- The strongest resistance is currently $ 59,869.
Bitcoin price forecast analysis shows that King Ramzarz is ready to raise the price after completing the second reverse head and shoulder pattern in the last five days. The first inverted head and shoulder pattern was completed on November 19, 2021 and priced at $ 58,337.
The second reverse head and shoulder pattern was completed on November 20, 2021, but the reminder continues to move well on November 21.
4-hour price chart BTC / USD: The market is losing volatility
The Bitcoin price forecast is that the Bollinger Bands show that volatility has eased over the past few days with the reign of the king of digital currencies in the cryptocurrency industry. The lower limit of the Bollinger Bands, which is at $ 56104, is support and the upper limit is at $ 60319. The BTC / USD price crosses the moving average curve, which shows a positive slope in the chart that shows an uptrend.
Bitcoin Price Analysis: Bitcoin shows healthy movement
Bitcoin price forecast from overnight price chart analysis shows that digital currency market fluctuations are definitely increasing. The upper limit of the Bollinger Bands as resistance is at $ 68091, while the lower limit of the Bollinger Bands is at $ 56944 which is support. We found that the price crosses the curve with the moving average analysis in the Bitcoin price analysis, which indicates an uptrend.
The relative strength index (RSI) score is 45.74, which clearly indicates that the assets are not on either side of the extreme, but are in the middle and do not provide any signal. This represents a constant amount of bulls buying assets. This means that the digital currency franchise, Bitcoin, is selling significantly. Increasing volatility indicates that asset prices are prone to change in any direction. It can soar or fall completely.
The chart shows the Relative Strength Index (RSI) at 52, meaning that it is neither overpriced nor undervalued. Indicates the absence of a signal. Hence, digital currency royalties have once again proven to be unrivaled in the market. Reducing volatility indicates that asset market prices are less prone to change or expansion, meaning that prices do not change somewhat.
Bitcoin Price Analysis: Conclusions
Bitcoin price forecasts lead to the conclusion that we have seen that the current behavior of the king of digital currencies is following a relatively upward trend and is tired at the border of $ 70,000. Chart analysis shows that with a steady uptrend, the king is expected to enter the $ 70,000 range soon, but in the event of current support fluctuations, prices may fall to $ 60,000.
We have found that the current stable resistance is between $ 60,000 and $ 68,000. This means that the cows come in very strong and control the market. If bears hope to lower asset prices and capture the market, they should increase their play.
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