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Bitcoinforecast

Weekly BTC-USD(22nd November)After making a new ATH of $69,000 in the previous week, BTC witnessed a massive profit booking last week which caused BTC to close ~15% lower from its ATH level. It formed a big bearish candlestick on the weekly TF with a more than a 10% decline to close the week at $58,671. At the time of writing, BTC is trading slightly above $57,200. As per the Elliott Wave formation, it seems BTC will be completing its 4th corrective wave in the coming days and further selling pressure can be witnessed. Currently, BTC is trading in a very crucial range of $56,000 to $59,000. On the lower side, the nearest support level is present at $55,500. However, if this level is broken, further downside swing is most likely to continue till the level of $53,000. On the higher side, a strong sell wall is present above $65,000 as none of the weekly candlesticks has been able to close above this level. However, BTC has decisively broken the support of $60,000 now and this will act as the immediate crucial resistance for the way up, if bulls manage to close above this level, then further upswing rally is most likely to continue till the previous ATH levels. As per the major TF’s, the overall trend is still strong and currently, BTC is just completing its Elliot Wave structure and also strong buying can be expected from the Fibonacci retracement level of 0.618 which is present in the range of $51,500 to $52,000, therefore, these corrections are a part of the cycle and provide traders with a new opportunity to go long.
COINBASE:BTCUSD
by TradeDog-Research
BITCOIN?! Is it a correction or a major selling???Hey everyone, Bitcoin is 6% down today from the daily high. It might be going for another higher low, which can be formed between 50 to 61.8% of the current wave (which is near 50.8k to 54.3k). The all time high is exact 69k and today's high is $63628 and today's low was $59907.73 . It might take support at the Fibonacci channel too, near 57 to 59k. Currently, there is less volume in the market. We might see a major move by Bitcoin soon, which might affect the altcoins. The effect can be both positive and negative. As of now, I'm bearish on BTC.
BITSTAMP:BTCUSD
by theTAguy
Bitcoin looking weak. Where will it go? Read moreBitcoin dumped hard because of Infrastructure bill, ethereum foundation selloff and china fud. The volume was weak since a few days and the pullback which was around the corner finally came. Btc has found support at the conflux of a major support level and the 50-period Moving Average. I expect it to go lower to 100-period EMA and the next support level at 56200 range. There is no chance or a reason for bitcoin to go any further below it. Historically November has been the most bullish but I expect that this year it will be the opposite. Like after every dump, this time too btc will range for a few days and have a few long red wicks before it starts pumping. A red wick to 52900-53400 is also possible. Opening a long/short position is not safe - neither in btc nor in alts. Every rally may bring bigger pump in alts, but in every dump the loss will be equally greater. Stay on the sides and keep on accumulating in every dip. And like always, I expect the chart to play out the bart pattern.
COINBASE:BTCUSD
by AltcoinMoneyPrinter
Weekly BTC-USD(15th November)The crypto markets witnessed a profit booking towards the end of last week, with the flagship coin BTC getting dipped by ~4%. BTC managed to close the week in green and closed the week with 3.47% gains and even made a new ATH of $69,000. The sell-off is mostly triggered by the fears of earlier Federal Reserve Interest rate hikes which overshadowed the awaited Taproot upgrade. BTC started the new week with mild gains of 0.41% and at the time of writing, BTC is trading slightly above $65,500. The past week’s closing of $65,505 is the highest in terms of weekly closing. On the higher side, BTC has strong resistance placed at $67,000 once this level is breached the next potential hurdle is present at $69,000 followed by $71,000. With the trend going higher, the support levels have been also shifting higher with the nearest support level present at $62,500 followed by the support presented by 50-DEMA which is placed at $59,300. The overall trend is quite bullish at the moment but on the contrary side, weekly RSI is showing divergence with the price and minor corrections or cooldown periods can be expected on the way up, but these corrections should be considered as buying opportunities.
COINBASE:BTCUSDLong
by TradeDog-Research
Bitcoin 70000- 75000- ... ???? After nice breakout, the price managed to breakout through the median of the pitchfork which is the golden line the green lines are following pitchfork acting as support and resistance on higher time frame the greenish zone is the 4h halting zone is the price breaks the golden line it is consolidating and forming triangle pattern not gonna go short the trend is up but this looks like a pullback or buildup, profit booking from previous trend buyers long is the price get rejections from golden line with strong bullish candle can trade after the breakout of triangle pattern the full range of pitchfork ive drawn has indicated max 77500 levels but with some slight pullbacks and corrections
Long
by Jimmy_Rebello
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