Bitcoin Price Prediction November 14

Bitcoin price prediction: The upside is possible if the king coin rallies higher than the resistance level at $65,000

BTC/USD Long-term Trend Bullish (Daily chart)

These are the key levels

Resistance Levels: $70,000 - $72,000 - $74,000

Support Levels: $62,000, $60,000, $58,000

BTC/USD trades at 0.56% higher than the previous day's session opening at $65,505; the market is now moving upwards to $65,871 and the current market value. The first digital coin is currently moving in the short-term bullish market despite low volatility. Current conditions suggest that the coin could increase its movement in the coming trading hours if it moves above the 9-day and 21 day moving averages. The technical indicator Relative strength Index (14) has risen to 60.

Bitcoin Price Prediction: BTC price may soon reach $70,000

The Bitcoin price currently trades at $65,871 at the opening of today's market, having reached the $65,292 low. The market's movement is showing signs of a retracement or selloff. This could happen shortly after reaching the critical $66,000 level. Traders may then see the $68,000 level being tested once again before pushing higher.

The downside is that if the market falls, Bitcoin's price could drop below the $9000 moving average. If this support fails to hold, traders may see Bitcoin fall further below the 21-day moving mean to reach the $62,000, $60,000, and critical $58,000 support levels. However, any bullish movements towards the upper border of the channel could locate resistance levels at $70,000 $72,000 and $74,000.

BTC/USD Medium - Term Trend: Ranging (4H Chart)

We expect the coin will regain its lost momentum and trade at $66,000 on the 4-hour chart. The volatility is still there, so the selling pressure may still be present, which could cause the coin to not be able cross the 9-day or 21-day moving averages. If BTC breaches the lower limit of the channel, $63,500 or less may be in play.

The buyers may still power the market and strengthen it. However, traders can expect a retest of $67,000 resistance. Breaking above this level could allow bulls to climb to $67,500. The technical indicator Relative Strength Index (14), is trading below the 60-level.

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By: Azeez Mustapha
Title: Bitcoin Price Prediction: BTC/USD Eyes Fresh Rally Close to $66,000
Sourced From: insidebitcoins.com/news/bitcoin-price-prediction-btc-usd-eyes-fresh-rally-close-to-66000
Published Date: Mon, 15 Nov 2021 14:16:41 +0000