Bitcoin (BTC) Price Prediction: BTC/USD Fails To Sustain Above $58k as Bitcoin Risks $50k Low ByAzeez MustaphaPRO INVESTOR Updated: 27 November 2021 DisclosureWe sometimes use affiliate links in our content, when clicking on those we might receive a commission – at no extra cost to you. By using this website you agree to our terms and conditions and privacy policy. Join Our Telegram channel to stay up to date on breaking news coverage BTC/USD in a Deeper Downward Correction as Bitcoin Risks $50k Low – November 27, 2021 Bitcoin (BTC/USD) price has resumed further selling pressure as Bitcoin risks $50k Low. On November 26, the bears broke below the previous low of $56,555 to reach the low of $53,555. Before the recent breakdown, buyers have been holding the previous low since November 18. Resistance Levels: $70,000, $75,000, $80,000 Support Levels: $50,000, $45,000, $40,000 BTC/USD – Daily Chart Buy Bitcoin Now Following the recent breakdown, sellers have broken the price range of between $55,700 and $58,000. Buyers defended the $55,700 support before the recent breakdown. Today, BTC price is correcting upward to revisit the previous highs. If buyers pushed Bitcoin above the $55,700 high , the crypto will return to the previous range bound zone.This will propel BTC price to rise and retest the $58,000 high. Conversely, if the current upward correction faces rejection at $55,700 high, the selling pressure will resume. Bitcoin will decline to the $50,000 psychological price level. El Salvador celebrates Black Friday, Buys 100 for 20% off El Salvador has purchased 100 Bitcoin following a global market sell-off in response to a new COVID-19 variant discovered in South Africa. The addition of the 100 coins has increased El Salvador hold to 1,220 BTC. The total holding is worth roughly $66.3 million following the crypto asset’s drop to the $54,000s. In retrospect, Bitcoin reached an all-time price of $69,000 on Nov. 10. Today, Bitcoin has fallen more than 20% to reach $54,343 at the time of publication, an 8% drop in less than 24 hours. BTC/USD – Daily Chart Meanwhile, on November 26 , Bitcoin plunged to the oversold region as Bitcoin risks $50k Low. On November 19 downtrend, a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that BTC will fall but reverse at level 1.272 Fibonacci extension or $52,128.90. Looking to buy or trade Bitcoin (BTC) now? Invest at eToro! Buy Bitcoin Now 68% of retail investor accounts lose money when trading CFDs with this provider Read more:• How to buy cryptocurrency• How to buy Bitcoin Join Our Telegram channel to stay up to date on breaking news coverage