Bitcoin Price Analysis — November 28
As mentioned earlier, BTC currently trades under intense bearish pressure, following the discovery of a new COVID-19 variant in South Africa. The new variant is said to be more communicable and deadly than its predecessors, according to the WHO. This announcement sent the entire financial markets into aggressive sell-off modes as investors moved to less risky assets. That said, the benchmark cryptocurrency currently trades within a tight range between 55K and 
54K as traders watch new developments closely. This makes it advisable for bulls to wait for some sustained move above the 57K level (200 SMA) to confirm a bullish reversal.
Meanwhile, my resistance levels are at $55,000, $55,500, and $56,700, and my key support levels are at $54,000, $53,000, and $52,000.
Total Market Capitalization: $2.45 trillion
Bitcoin Market Capitalization: $1.02 trillion
Bitcoin Dominance: 42%
Market Rank: #1
54K as traders watch new developments closely. This makes it advisable for bulls to wait for some sustained move above the 57K level (200 SMA) to confirm a bullish reversal. Meanwhile, my resistance levels are at $55,000, $55,500, and $56,700, and my key support levels are at $54,000, $53,000, and $52,000.
Total Market Capitalization: $2.45 trillion
Bitcoin Market Capitalization: $1.02 trillion
Bitcoin Dominance: 42%
Market Rank: #1
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