Bitcoin Technical Analysis for 11/28/2015 – Big Battle at $353

The price band between $352-$353 has seen quite a bit of action this month. In my previous Bitcoin technical analysis article from the 13th, I explained why this area is of great technical significance and why it is crucial for the market to surmount this area in the future. When the market encountered the $353 pivot for a third time on the 26th, it briefly traded above it for a few hours, but then quickly dropped back under $353.

Bitcoin-technical-analysis-Nov28-2

Although there wasn’t enough buying momentum to really smash though this major pivot zone, price has slowly made its way above $353 over the last two days. This can be observed very clearly on the 1-hour chart, which shows that the market has now used $353 as support on three occasions in the past 24h. If price makes it back under $353 again, I think it is very likely that this level will turn into resistance, and price will most likely head south.

Bitcoin-technical-analysis-Nov28

 

Disclaimer:  This is not trading/investment advice!

Image Source: 1

Chart source: https://www.okcoin.com

If you liked this article follow us on twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin and altcoin price analysis and the latest cryptocurrency news.

No Responses

  1. Pingback: สมัคร lsm99 November 6, 2023
  2. Pingback: lsm99 December 7, 2023
  3. Pingback: สล็อตวอเลท January 9, 2024
  4. Pingback: hop over to this site March 22, 2024
  5. Pingback: blue meanie mushroom grow kit May 15, 2024
  6. Pingback: ร้านขายยา July 8, 2024