{"id":277142,"date":"2020-11-10T09:18:25","date_gmt":"2020-11-10T14:18:25","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=277142"},"modified":"2020-11-10T09:18:25","modified_gmt":"2020-11-10T14:18:25","slug":"btc-usd-long-term-trend-bearish-daily-chart-4","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/btc-usd-long-term-trend-bearish-daily-chart-4","title":{"rendered":"Bitcoin Price Prediction: BTC\/USD Breakdown Below $15,500 Looms; Can Bulls Bounce Back?"},"content":{"rendered":"

Bitcoin (BTC) Price Prediction \u2013 November 10<\/strong><\/p>\n

The Bitcoin price is struggling to recover above $15,700 but the coin remains at a risk of a larger breakdown below the $15,000 support.<\/p>\n

BTC\/USD Long-term Trend: Bearish (Daily Chart)<\/h4>\n

Key levels:<\/p>\n

Resistance Levels: $16,800, $17,000, $17,200<\/p>\n

Support Levels: $14,000, $13,800, $13,600<\/p>\n

\"\"<\/a>
BTCUSD – Daily Chart<\/figcaption><\/figure>\n

BTC\/USD<\/a> has been struggling to maintain its position above $16,000 but its price sees another dive below the $15,400 mark today. This battle comes after the coin tried and failed to extend gains past $16,000 which happened to be the daily high some few days ago. The Bitcoin price is back under $15,500 and currently changing hands at $15,231. Meanwhile, the Bitcoin price remains above the 9-day and the 21-day moving averages within the ascending channel.<\/p>\n

Where is BTC Price Going Next?<\/h4>\n

An upside break above the upper boundary of the channel is a must to start a substantial recovery. However, the next hurdles may be seen near the resistance levels of $16,800, $17,000, and $17,200. On the downside, initial support is below the 9-day moving average and if there is a successful break below the support level of $14,500, the bears are likely to gain strength by bringing the price to a low of $14,000, $13,800, and $13,600 respectively.<\/p>\n

Currently, the Bitcoin price follows a dominant bearish bias and a glance at the technical indicator RSI (14) reveals that the market may experience more downtrend if the signal line crosses below the 70-level.<\/p>\n

BTC\/USD Medium – Term Trend: Ranging (4H Chart)<\/h4>\n

BTC\/USD trades within the range of $14,600 to $15,800. Nevertheless, Bitcoin has not yet slipped below $15,000 and is still in the loop of making a bounce back. BTC price hovers around $15,225 and may take time to persistently trade above $15,500. The upward movement is facing hurdles near the $15,700 and $15,900 resistance level.<\/p>\n

\"\"<\/a>
BTCUSD – 4 Hour Chart<\/figcaption><\/figure>\n

However, on the downside, immediate support is near the $15,000 level while the main support is at the $14,800 level. The price might slide sharply below $14,600 which may likely test another support at the $14,400 level. Technically, Bitcoin is poised for more losses in the near-term as the RSI (14) is currently moving sideways, waiting for the next direction.<\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin (BTC) Price Prediction \u2013 November 10 The Bitcoin price is struggling to recover above $15,700 but the coin remains at a risk of a […]<\/a><\/div>","protected":false},"author":1742,"featured_media":277144,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[734,5319,7991,7992],"class_list":["post-277142","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-more-crypto-news","tag-bitcoin","tag-btc","tag-btcusd","tag-technical-analysis"],"acf":[],"yoast_head":"\nBitcoin Price Prediction: BTC\/USD Breakdown Below $15,500 Looms; Can Bulls Bounce Back?<\/title>\n<meta name=\"description\" content=\"The Bitcoin price is struggling to recover above $15,700 but the coin remains at a risk of a larger breakdown below the $15,000 support.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/277142\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Price Prediction: BTC\/USD Breakdown Below $15,500 Looms; 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