Market Analysis of Bitcoin on Tuesday 16 November 2021

2021-11-16 13:55Source:BtcDana

In early trading on Tuesday, bitcoin dropped and the price was at $61,100. The scale of Bitcoin fund management rose to 56 billion U.S. dollars, and the U.S. Republican Party announced the central bank's digital currency-related guidelines. Disney CEO: Metaverse is the future of Disney. Data: The total amount of DeFi staking across the entire network has exceeded 180 billion U.S. dollars.


From a technical perspective, the daily graph shows that Bitcoin dropped and broke through middle BOLL band and closed by doji star. On H4 graph, bitcoin formed ladder bottom and broke through 62200. MA formed Death Cross on the high position. MACD broke through 0 axis. Overall, prioritise Buy on Low positions. The chart below is showing the key point and the estimated trend, the deciding point whether to buy or sell is near 62200.

https://asset.onetrader.online/upload/file/1636992000000/1637045562191.png

Resistance:62200-63400-64300

Support:60000-58800-57700


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