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Bitcoin Forecast and Analysis November 9 — 13, 2020

Bitcoin BTC/USD ends the trading week at 15459 and continues to move within the strong growth and upward channel. Moving averages indicate a bullish trend. Prices went up from the area between the signal lines, which indicates pressure from the buyers of the asset and the potential continued growth of the asset’s quotes. At the moment, we should expect an attempt to develop growth and test the resistance area near the level of 13355. Where can we expect a rebound and continued growth in the Bitcoin exchange rate with a potential target above the level of 19965.

Bitcoin Forecast and Analysis November 9 — 13, 2020

An additional signal in favor of raising the BTC/USD quotes in the current trading week on November 9 — 13, 2020 will be a rebound from the lower border of the ascending channel. The second signal will be a rebound from the support line on the RSI indicator. Cancellation of the Bitcoin growth option will be a fall and a breakdown of the 11305 area. This will indicate a breakdown of the support area and a continued fall in BTC/USD quotes with a potential target below the level of 9655. Confirmation of the development of an upward trend will be a breakdown of the resistance area and closing of quotes above the level of 13965.

Bitcoin Forecast and Analysis November 9 — 13, 2020

Bitcoin Forecast and Analysis November 9 — 13, 2020 suggests an attempt at a support area near the level of 13355. Then, the cryptocurrency will continue to grow to an area below the level of 19965. An additional signal in favor of an increase in the Bitcoin exchange rate in the current trading week will be a test of the support line on the relative strength index (RSI). Cancellation of the growth option for Bitcoin cryptocurrency quotes will be a fall and a breakdown of the 11305 area. In this case, we should expect a continued decline with a target at 9655.

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