Bitcoin Price Prediction: BTC/USD Trades below $60,000 Resistance ByAzeez MustaphaPRO INVESTOR Updated: 21 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 Bitcoin Price Prediction – November 21 After touching the daily high of $60,070, the Bitcoin price is down to touch a low of $58,509 as there may not be a quick recovery for the coin at the moment. BTC/USD Long-term Trend: Ranging (Daily Chart) Key levels: Resistance Levels: $65,000, $67,000, $69,000 Support Levels: $55,000, $53,000, $51,000 BTCUSD – Daily Chart Buy Bitcoin Now After forming a short-term top, BTC/USD is diving below $60,000 as the price is currently consolidating around $59,513 with a few bearish signals. However, the recent correction to the upward failed near the $60,070 level. The Bitcoin bulls are struggling to gain momentum above the $60,000 level. Bitcoin Price Prediction: Would Bitcoin Go Up or Down? As the daily chart reveals that the Bitcoin price stays below the 9-day and 21-day moving averages as the $58,000 and $56,000 levels are initial supports. Meanwhile, if the buyers fail to defend the recent low of $59,000, there is a risk of a sharp decline within the channel and if the bears drag the price below the lower boundary of the channel, the king coin could drop to the critical support levels of $55,000, $53,000 and $51,000. However, if there is a clear break above the 9-day and 21-day moving averages, the Bitcoin price could touch the $62,000 resistance level. If the bulls manage to gain strength above this level, there are chances of a decent recovery towards the $63,000 resistance level. More so, the Bitcoin price could reach the resistance levels at $65,000, $67,000 and $69,000. Meanwhile, the Relative Strength Index (14) is moving below 45-level, suggesting a bearish signal. BTC/USD Medium – Term Trend: Bearish (4H Chart) On the 4-hour chart, the Bitcoin price is moving above the 9-day and 21-day moving averages, taking the price to the resistance level of $60,000. However, if the price begin to drop and move below the moving averages, it could reach the nearest support level of $57000 and below. BTCUSD – 4 Hour Chart Moreover, if the bulls push the coin above the upper boundary of the channel, the Bitcoin price may likely hit the potential resistance level of $62,000, above. At the moment, the market is bearish as the Relative Strength Index (14) indicator moves around 50-level. 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 Bitcoin How to buy Cryptocurrency Join Our Telegram channel to stay up to date on breaking news coverage