Bitcoin Analysis - November 23, 2017
Buyers lost their inertia, and the rise in the price of Bitcoin was slowing
Bitcoin price continues to rise, but at a slower pace than in the past days. This signals that buyers are losing momentum, and we can witness a larger decline over the weekend.
Although some of the technical indicators still show that the more likely path is up, we are entering the overbought zone where vendors are trying to gain. In recent days, high values have become increasingly low, which is also a signal for a subsequent correction. If the price drops, the level of support is the ascending line, linking the lowest values in October. This means that for a drop below 7100-7200 dollars, sellers have to put a lot of pressure.
The analysis is for informational purposes only and does not constitute advice, recommendation or offer to buy or sell Bitcoin, any other crypto or financial instrument. @suggeelson is not responsible for any losses after the use of the current analysis. Invest wisely and only amounts that you can afford to lose.
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image source - screenshot from tradeview
bitcoin has formed a reversal figure, you can pay attention to bitcoin cache, where today the bull market and the price passed the previous target
This post has received gratitude of 10.33 % from @appreciator thanks to: @suggeelson.
It hasn't lose its steam. The influencers are going on and pumping Bitcoin Gold again and that's all it is. Once the speech is over and they've sold it all it'll come flood backing it asap...LOL!
