Thursday, November 14, 2019
The support at 8'600$ holds but has been tested several times. With the exception of the Community Trend, all indicators are bearish.
Current support/resistance: $8'600 / $8'800
The support at $8'600 holds for the moment but has been tested many times. Given the current trend, lack of buying pressure and low volumes, it is likely that the price will approach the $8'000 region. If this is the case, the sharp increase observed after China's announcement would not have provided a sufficient catalyst in the medium term. However, the price has moved significantly away from the 20-day moving average, so it is also expected that there will be a period of recovery or consolidation once Bitcoin has found a strong support.
The analysis is based on the latest close price (00:00 UTC time, daily basis)
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