Bitcoin Price Weekly Update: 11th November – 17th November 2019

Hello bitcoin lovers and happy eid-el-maulud. Sorry I didn’t send bitcoin price update for last week. My sincere apologies folks. Bitcoin price is indeed a pendulum right now. Nevertheless, we always look out for our own share of the market. It’s a norm that every end of the year is usually a bullish period, but we cannot really depend on an ordinary norm. This week we expect a breakout from the tight range we have on the daily chart. For over a week we have been limited to a range between $8,714 and $9,374. We also have our support, $8,714 sitting on the 200 EMA. If the support sustains and we get a break above $9,374 then our target will be $10,378. Our MACD shows that a downtrend, and also a weakening of the trend pushing it downwards. More probability of the downtrend than the uptrend. On the 4hr chart (picture below), we have a bearish trendline (blue) that was broken but got impeded by the $9,374 resistance. We have a short term bearish trendline (green) that is still consistent. If this short term bearish trendline (green) sustains, then the support will be forced to open making $7,400 the next target.
Looking at the technical indicators:   
Major Support Level – $8,714
Major Resistance Level – $9,374

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for USD/BTC: for Naira/BTC:  If you have any questions, leave it in the comment section below. Disclaimer: This article is in no way a financial advisor for your trading. Any action taken in this regard is done at your own risk. Nigerian Bitcoin Community is not liable for any loss or gain as a result of the application of this content. We advise you to do your own research.

2 thoughts on “Bitcoin Price Weekly Update: 11th November – 17th November 2019”

  1. Hello Kayode,
    I wish to bring to your notice if possible you may assist me. I just sent NGN75,000.00 to trade with according to the plan, I am to earn 85% after 24 hours, its almost 2 weeks today, I have neither heard from them or receive back my capital.

    Reply

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