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Bitcoin (BTC) Price Analysis for November 15

Price Predictions
Mon, 11/15/2021 - 15:52
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Denys Serhiichuk
Can one expect new peaks from Bitcoin (BTC) this week?
Bitcoin (BTC) Price Analysis for November 15
Cover image via www.tradingview.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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The new week has begun with continued bullish dominance on the cryptocurrency market; however, some coins are in the red zone.

Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

Over the weekend, the Bitcoin (BTC) price tried to recover above the hourly EMA55, but the pair could not overcome the resistance of the $64,895 level.

BTC/USD chart by TradingView
BTC/USD chart by TradingView

Buyers managed to form a bullish impulse tonight that broke through the 100% Fibonacci level and tested the $66,000 mark. In the morning, the volume of purchases decreased, and the pair may return to the area of average prices.

Related
BTC, ETH and BNB Price Analysis for November 13

If buyers keep the price above the EMA55, then the recovery can continue toward the $67,000 mark.

BTC/USD chart by TradingView
BTC/USD chart by TradingView

On the bigger time frame, Bitcoin (BTC) could not keep the rise and fix above the $66,000 mark. At the moment, one needs to pay close attention to the area at $64,800, which is the recently formed mirror level.

BTC/USD chart by TradingView
BTC/USD chart by TradingView

On the daily chart, Bitcoin (BTC) is showing weakness by the end of the day as buyers could have failed to come back to the resistance around $67,000.

Related
DOGE and SHIB Price Analysis for November 12

In this case, the more likely price action is the test of the nearest support level at $64,300, so the build could gain more energy for a continued rise.

Bitcoin is trading at $65,130 at press time.

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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.