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Bitcoin (BTC) Price Analysis for November 16 - news.adtechsolutions Bitcoin (BTC) Price Analysis for November 16 - news.adtechsolutions

Bitcoin (BTC) Price Analysis for November 16


Almost all the top 10 coins are in the red zone today, according to CoinStats.

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Top coins from CoinStats

BTC/USD

The price of Bitcoin (BTC) has fallen by almost 1% in the last 24 hours.

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Image by TradingView

In the hourly chart, the rate of BTC is far from the support and resistance levels. As neither side dominates, there is little chance of seeing strong moves from tomorrow.

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Image by TradingView

Over time, sellers are even more powerful than buyers. If a rebound off does not happen, traders can see a level breakdown, followed by a further decline to the $92,000-$93,0000 zone.

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Such a scenario is relevant in the coming days.

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Image by TradingView

From the midterm point of view, buyers are not ready to take the initiative. In this sense, a correction to the next support of $88,772 may occur at the end of the month.

Bitcoin is trading at $95,359 at press time.



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