THE EQONEX CRYPTO GUIDE AND LEARN HUB
Daily Bitcoin and Crypto Analysis

Daily BTC Analysis

November 24, 2020

One of my favorite questions to the Bitcoin skeptics is: “Ok, but have we seen the all-time high in Bitcoin?”

One of my favorite questions to the Bitcoin skeptics is: “Ok, but have we seen the all-time high in Bitcoin?”

Not one person, neither Bitcoin lover nor hater, has ever answered, ‘Yes, it will never trade higher than it did in 2017". Not one, ever, and I’ve asked this question a lot.

From my deep and thorough analysis, I have ascertained that Bitcoin haters don’t like money.

1. As it’s rapidly being devalued and they don’t seem to mind.

2. Even if you “can’t buy a beer with it”, why not just buy some and take the profit?

I will message them all as soon as we print a new ATH and ask…

Today feels like the night before Christmas (for all Santa’s good children).

WIth prices primed to move higher, it seems like a good time to figure out where it might stop. Given we are approaching clear skies, resistance levels are going to be hard to come by, so I have resulted to math, courtesy of some 13th century back of a parchment calculations by mathematician, Leonardo Fibonacci. (Fun fact, I named my son Archie Leonard, yes, I am that level trading geek).

From the March low of $4,644 to today’s high of $19,447, the upside target for Bitcoin is $29,100.

The only data I can find that may spoil the new ATH party is the level of Bitcoin’s hitting Coinbase accounts has spiked up during this rally. It’s not enough to stop this dead in its tracks, but it is worth keeping an eye on the behaviors of ‘hodlers’ as we approach the all important $20,000 level.

Image for post

Technical Analysis

Image for postImage for post

Another strong performance from Bitcoin has seen prices advance towards the all-time high, with just $445 all that stands between the 2017 ICO frenzy high, and today’s Covid-19, economic policy induced rally. Prices bounced from the $18,265 level and after a brief stop at resistance at $19,050, carried on to register a new yearly high at $19,447.

Image for postImage for post

$19,891 is the next stop. It feels almost impossible that having come this close, Bitcoin would fail to print a new all-time high. Above here, we would expect to see some resistance at $20,000.

Should we fail to advance past $19,447 again today, we would expect the market to cool and return first to the $19,050 level, before potentially slipping back down to $18,265.

Image for postImage for post

Related Articles

November 18: Daily BTC Analysis

November 18: Daily BTC Analysis

November 19, 2021

Matt Blom

The natural ebb-and-flow of price, has replaced the bullish moves seen through October and early November

Keep up with crypto through EQONEX!


This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Daily Macro And Crypto Markets Update: Markets Pull Back But On-Chain Indicators Hint At More Upside

Daily Macro And Crypto Markets Update: Markets Pull Back But On-Chain Indicators Hint At More Upside

November 17, 2021

Justin d'Anethan

It looks like crypto isn’t correlated to traditional markets, at least not during this past session.

Daily BTC Analysis: The Weekender

Daily BTC Analysis: The Weekender

November 15, 2021

Matt Blom

One of the big factors contributing to bitcoin’s expansion over gold is that millennials are becoming more knowledgeable of the investing world.

THE EQONEX CRYPTO GUIDE AND LEARN HUB

Bringing digital assets to the world.

EQONEX is a digital assets financial services company focused on delivering a full, digital asset ecosystem that offers innovative, trusted, and transparent products and services.

Keep up with crypto through EQONEX!


This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

© 2022 EQONEX Capital Pte Ltd
All rights reserved.

IS 749075