Stocktaking time for Bitcoin (BTC) after the bloody day of November 26, 2020: BTC still remains bullish for relatively long periods of time. It is not known whether or not Bitcoin has bottomed at this time. The bulls try to limit the damage and, they are doing pretty well so far.
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Strongly the bottom!
The price of Bitcoin went down to 16,400 USD on some exchanges, during the thanksgiving crash of November 26, 2020.
Bitcoin then climbed back above $ 17,000 today, November 27, 2020, before dropping below that level again, descending to $ 16,550 before rebounding.
The fall below $ 17,000 coincided with an increase in whale deposits on exchanges. Bitcoin Trading at $ 16,841 at the time of writing.
Some traders are hoping that the bulls will be able to defend the $ 16,000. Others like the trader ” Beatlorion “Expect to drop below $ 15,000.
Tone Vays reported on November 25, 2020 that he expected the Bitcoin up to the level of 14,000 USD.
Always bullish, indicators to the green
The daily RSI (14) of Bitcoin is now in a neutral zone. The weekly and monthly RSI (14) are still in a bullish zone, above 70.
The BTC is likely to end this day with a green daily candlestick. Technical indicators show a BTC which has yet to enter a bearish phase despite its price collapse yesterday, November 26, 2020. Bitcoin even remains bullish on weekly and monthly bases.
Bitcoin Will he manage to win back the $ 18,000 by the end of this month to mark that he is still in the hunt for $ 20,000 in the short term?
The Thanksgiving crash looks like a decompression, logically following a market already heavily overbought, especially over a daily period, for a long time.
Looking at the glass half full, we will say that Bitcoin This has done tremendously as its price has managed to stay above $ 16,000 for the time being.
Should we really forget the 20,000 USD for this year? BTC had started a bullish rally in October 2020, following PayPal’s announcement of the upcoming launch of its crypto services. Could another exogenous factor reignite this parabolic rise by the end of November 2020, with the bulls starting their run this time around at levels much closer to $ 20,000?
Litecoin, welcome in the Silver Age