Bitcoin Price Prediction: BTC/USD Faces Rejection at $18,500, Consolidates Between$17,450 and $18,250 ByAzeez MustaphaPRO INVESTOR Updated: 18 November 2020 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 Bitcoin (BTC) Price Prediction – November 18, 2020Today, BTC/USD rallied to $18,450 but it was repelled almost at the same time. The coin fell to $17,450 and corrected upward. Presently, the King coin is fluctuating between $17,450 and $18,250 as bulls find penetration difficult at the $18.500 high.Resistance Levels: $13,000, $14,000, $15,000Support Levels: $7,000, $6,000, $5,000 BTC/USD – Daily Chart For subsequent upward move, Bitcoin has to battle the resistance at $18,500. Analysts believe that the $18,500 resistance is a major resistance level where breaking the resistance level will catapult Bitcoin to a greater price level. In other words, a break above $18,500 will push Bitcoin to rally above the $20,000 price level. In the meantime, the price movement has been restricted between $17,450 and $18,250. To push upward, buyers have retested the $18.250 resistance twice. The price has been repelled as it consolidates above the lower price range.On the upside, a breakout at the $18,250 or $18,500 will propel BTC to a high of $20,000. Similarly, a breakdown below $17,450 will sink BTC to a low at $16,700. Meanwhile, since October 29, Bitcoin has been trading in the overbought region above the 80% range of the daily stochastic. This indicates that the bulls have control of the market than the bears. Bitcoin is also trading in a strong trending market as the overbought region of the market fails to hold.Mexico’s Second Richest Man Invests 10% of His Liquid Portfolio in BitcoinRicardo Salinas Pliego is the 166th wealthiest person in the world. In Mexico, he is the second wealthiest person and has indicated that 10% of his “liquid portfolio” has been invested in Bitcoin. The billionaire shares a video captured in “a Latin country”. According to him, he said: “He asserted that “paper money is worth nothing,” adding: “That is why it is always good to diversify our investment portfolio.” BTC/USD – 4 Hour Chart Meanwhile, Bitcoin has risen and surpassed the projected price level. On November 6 uptrend; a retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates that Bitcoin will rise and reach level 2.0 Fibonacci retracement level. That is the high of $18,270.40. Join Our Telegram channel to stay up to date on breaking news coverage