{"id":310944,"date":"2021-11-11T14:08:19","date_gmt":"2021-11-11T19:08:19","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=310944"},"modified":"2024-05-31T09:22:15","modified_gmt":"2024-05-31T09:22:15","slug":"bitcoin-price-prediction-btc-usd-corrects-below-65000-level","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/bitcoin-price-prediction-btc-usd-corrects-below-65000-level","title":{"rendered":"Bitcoin Price Prediction: BTC\/USD Corrects Below $65,000 Level"},"content":{"rendered":"

Bitcoin Price Prediction – November 11<\/strong><\/p>\n

After touching the daily high of $65,600, the Bitcoin price drops over 0.46% as it trades around $64,725 level.<\/p>\n

BTC\/USD Long-term Trend: Ranging (Daily Chart)<\/h2>\n

Key levels:<\/p>\n

Resistance Levels: $70,000, $72,000, $74,000<\/p>\n

Support Levels: $60,000, $58,000, $56,000<\/p>\n

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

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BTC\/USD<\/a> is seen hovering below resistance level of $65,000, with the current movement, it is likely for the coin to cross below the 9-day and 21-day moving averages. However, the Bitcoin (BTC) begins the day off by trending lower toward the $64,000 level within the channel; crossing below the moving averages may locate the first support level at $62,000. Beneath this, support lies at $60,000, $58,000, and $56,000 levels.<\/p>\n

Bitcoin Price Prediction: Bitcoin (BTC) Could Trigger Fresh Increase<\/h2>\n

The Bitcoin price has been gradually and persistently working on a recovery mission with the support of $64,000. Therefore, the largest cryptocurrency hovers at $64,725 as bulls failed to keep the coin above the 9-day and 21-day moving averages. On the downside, immediate support has been provided by the 9-day moving average at the $64,133 level. Holding above the short-term support is the key for sustaining the uptrend due to the stability exemplifies in the market.<\/p>\n

On the upside, the Bitcoin price couldn’t go higher but seen dropping beneath the $65,000 level. Although the candle has not yet closes, however, it is likely that the bulls may end up closing above the resistance level of $65,000. More so, should in case the technical indicator Relative Strength Index (14) moves above 60-level, the resistance could be located at $70,000, $72,000, and $74,000 levels.<\/p>\n

BTC\/USD Medium-Term Trend: Ranging (4H Chart)<\/h2>\n

According to the 4-hour chart, traders can see that bears are likely to come back into the market if the bulls failed to defend the support at $64,000. However, the 9-day moving average is seen crossing below the 21-day moving average. Therefore, the $63,000 and below may come into play if the bearish movement continue to surface in the market.<\/p>\n

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

On the contrary, if the buyers reclaim the market movement and push the coin above the moving averages, traders may expect a retest at the $66,000 resistance level; breaking this level may further allow the bulls to touch $67,000 and above. At the moment, the technical indicator Relative Strength Index (14) continues to move below 50-level, which may give additional bearish signals in the next negative move.<\/p>\n

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