Bitcoin Price Analysis Nov.11: Support holds, still dangerous

Bitcoin Price Analysis Nov.11: Support holds, still dangerous

As mentioned on our previous price analysis, Bitcoin was facing the significant $6500 – $6530 resistance area. It has failed to break it, what lead a correction down with a current low at $6307 (Bitstamp), getting support on the ascending trend-line.

Despite the fact that Bitcoin was looking positive, so far, it has failed to create a higher low around $6500. As long as it won’t occur, my point of view on the market will be bearish.

Now what?

BTC/USD BitStamp 4 Hours chart

Cryptocurrency charts by TradingView. Technical analysis tools by Coinigy.

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