BTC Urgently Needs to Improve Its Image as the US Dollar Weakens
Login

BTC Urgently Needs to Improve Its Image as the US Dollar Weakens

Estimated Reading Time: 2 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:


BTC urgently needs to improve its image after the devastating plunge from last week. The price of Bitcoin is making only small gains. Bulls in the BTC market are currently unable to profit from the depreciating US dollar.

Due to traders’ need for more time to process what happened with the FTX implosion, expect an uncertain close on Sunday.
When FTX came out of the closet, Bitcoin was on the verge of recouping a major portion of its losses from the previous week.

Key Bitcoin Levels to Watch – November 20

Bitcoin has fallen precipitously since March when it was trading at $48,000, and we have yet to see a significant upward rally. The market indicates bearishness in price action due to the recent break-in structure.

BTC Urgently Needs to Improve Its Image as the US Dollar Weakens

Since there is a break in the market structure, we are expected to see a retracement upwards to the FVG (fair value gap). Moreover, market sentiment seems bullish due to most traders’ expectations after the recent FTX incident.

Traders are expecting a bullish move in Bitcoin as the price reaches an overbought region in the RSI (Relative Strength Index). If the price does not break below the previous low of $15,700, it indicates a strong bullish trend.

BTC key levels

Resistance level – $21500 $25450
Support level – $15700 $13000

Total Market Capitalization: $347.43B
Bitcoin Coin Market Capitalization: $318.26B
Bitcoin Volume: $18.95B
Market rank:1

You can purchase Lucky Block here.  Buy LBLOCK

NoteLearn2.trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News