Bitcoin short-term Price Analysis: 26 November

[sneakyboi]

Bitcoin short-term Price Analysis: 26 November

The value of Bitcoin had been appreciating without any hiccups for the past one month, until quite recently. In fact, over the past 48 hours, soon after Bitcoin climbed to a local top of $19,490, BTC fell dramatically on the charts, with the cryptocurrency’s value noted to be $17,238, at the time of writing.

In fact, Bitcoin’s price was observed to have broken out of an ascending channel, with the coin’s momentum claiming to hit a peak in the market.



The attached chart indicated that as Bitcoin reached its peak, the volatility in the market started to rise. The aforementioned volatility in a bullish market signaled a possible reversal, one took place sooner rather than later. The price broke out of an ascending channel, downwards, and dipped under its immediate support at $16,516 briefly, before bouncing back. However, traders do expect to see the price rise momentarily and can assume long positions.

Learn more about the analysis here.

[Bitdog]

Bitcoin has started to recover it already touched $20k but today the price of bitcoin is $17k everybody know it bitcoin is potential investment for long term but now Bitcoin is a great coin for short term investments if you invest now you will earn good profits in next month.

[Tnoy30]

No matter how much speculation or discussion there is about Bitcoin, Bitcoin currency is best for long term investment. There are many investors in the market who love to invest long term. They benefit from Bitcoin. Because they invest in researching and discussing bitcoin. Analyzing and investing is not likely to be a loss.