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Bitcoin (BTC) Price Analysis for November 22


The rates of most of the coins keep falling, according to the CoinMarketCap ranking.

Top 10 coins by CoinMarketCap


The price of Bitcoin (BTC) has dropped by 1.12% over the last 24 hours.

BTC/USD chart by TradingView

Despite the decline, the rate of Bitcoin (BTC) has successfully bounced off the local support level at $15,651. Moreover, the price has fixed above the resistance at $15,932.

If bulls can hold the gained initiative until the end of the day, the rise may continue to the $16,300 mark tomorrow.

BTC/USD chart by TradingView

On the daily chart, Bitcoin (BTC) has once again bounced back to the support at $15,632. Currently, one needs to pay close attention to the $16,000 mark. If the bar closes above it with no long wicks, there is a chance to see the local growth of the main cryptocurrency.

BTC/USD chart by TradingView

A similar situation appears on the longer time frame. If a false breakout of the support level at $15,632 happens, there is a possibility to see Bitcoin (BTC) bullish next week.

Bitcoin is trading at $16,002 at press time.


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