Market Analysis of Bitcoin on Friday 12 November 2021

2021-11-12 13:55Source:BtcDana

On Friday morning, Bitcoin bottomed out and rebounded. The current price is at $65,000. Bitcoin is expected to consume 76 billion kilowatt-hours of energy this year, about three times that of Ethereum. The number of Bitcoin Lightning Network nodes exceeded 30,000, a record high. Grayscale's total assets under management exceeded 60 billion U.S. dollars, surpassing the largest gold fund company.


From a technical perspective, the daily graph closed bullish. Bitcoin is stable at MA10 and continue to increase. There was a short-term adjustment. On H4 graph, bitcoin was sideways. Bitcoin was under pressure of middle BOLL band. The indicator was neutral. Overall, prioritise operation within the fluctuation zone. The chart below is showing the key point and the estimated trend, the deciding point whether to buy or sell is near 65600.

https://asset.onetrader.online/upload/file/1636646400000/1636699940677.png

Resistance:65600-66800-68500

Support:64000-62800-60000


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