BITCOIN- 3 Key Levels You Must Know

2021年11月16日

Further to our post here just 4 days ago:

Price has dipped lower, has rebounded but as you can see on the video the price is struggling to climb back into the ascending channel:

key levels are resistance at 60,800$ and support at 60,000 now and 57,800

Reasons:

Strong dollar: wsj.com/articles/bitcoin-price-briefly-drops-below-60-000-as-strong-dollar-weighs-on-crypto-11637064729
Chinese mining crackdown : edition.cnn.com/2021/11/16/investing/bitcoin-china-crypto-mining-crackdown-intl-hnk/index.html
A lot of other negative articles like this one here: marketwatch.com/story/bitcoin-as-a-universal-payment-method-this-deutsche-bank-chart-shows-one-big-thing-standing-in-the-way-11637075751
Biden's Bill crypto tax: cnbc.com/2021/11/15/crypto-news-updates-infrastructure-bill-to-be-signed-bitcoin-taproot-upgrade.html

A further correction can not be crossed out but most likely the 60,000$ mark can stand and this storm shall pass as well; just like the previous ones.

One Love,

the FXPROFESSOR