BITCOIN- 3 Key Levels You Must Know
Further to our post here just 4 days ago:
Price has dipped lower, has rebounded but as you can see on the video the price is struggling to climb back into the ascending channel:
key levels are resistance at 60,800$ and support at 60,000 now and 57,800
Reasons:
Strong dollar: wsj.com/articles/bitcoin-price-briefly-drops-below-60-000-as-strong-dollar-weighs-on-crypto-11637064729
Chinese mining crackdown : edition.cnn.com/2021/11/16/investing/bitcoin-china-crypto-mining-crackdown-intl-hnk/index.html
A lot of other negative articles like this one here: marketwatch.com/story/bitcoin-as-a-universal-payment-method-this-deutsche-bank-chart-shows-one-big-thing-standing-in-the-way-11637075751
Biden's Bill crypto tax: cnbc.com/2021/11/15/crypto-news-updates-infrastructure-bill-to-be-signed-bitcoin-taproot-upgrade.html
A further correction can not be crossed out but most likely the 60,000$ mark can stand and this storm shall pass as well; just like the previous ones.
One Love,
the FXPROFESSOR
Price has dipped lower, has rebounded but as you can see on the video the price is struggling to climb back into the ascending channel:
key levels are resistance at 60,800$ and support at 60,000 now and 57,800
Reasons:
Strong dollar: wsj.com/articles/bitcoin-price-briefly-drops-below-60-000-as-strong-dollar-weighs-on-crypto-11637064729
Chinese mining crackdown : edition.cnn.com/2021/11/16/investing/bitcoin-china-crypto-mining-crackdown-intl-hnk/index.html
A lot of other negative articles like this one here: marketwatch.com/story/bitcoin-as-a-universal-payment-method-this-deutsche-bank-chart-shows-one-big-thing-standing-in-the-way-11637075751
Biden's Bill crypto tax: cnbc.com/2021/11/15/crypto-news-updates-infrastructure-bill-to-be-signed-bitcoin-taproot-upgrade.html
A further correction can not be crossed out but most likely the 60,000$ mark can stand and this storm shall pass as well; just like the previous ones.
One Love,
the FXPROFESSOR
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