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Daily: Bitcoin prepares for a reversal</h1></div></div><div class="time_date_block"><ul class="time_date"><li>Nov 26, 2021</li><li>05:11</li><li>2 min reading</li></ul><div class="author_block"><div class="author_image"><span style="box-sizing:border-box;display:inline-block;overflow:hidden;width:initial;height:initial;background:none;opacity:1;border:0;margin:0;padding:0;position:relative;max-width:100%"><span style="box-sizing:border-box;display:block;width:initial;height:initial;background:none;opacity:1;border:0;margin:0;padding:0;max-width:100%"><img style="display:block;max-width:100%;width:initial;height:initial;background:none;opacity:1;border:0;margin:0;padding:0" alt="" aria-hidden="true" src="data:image/svg+xml,%3csvg%20xmlns=%27http://www.w3.org/2000/svg%27%20version=%271.1%27%20width=%2720%27%20height=%2720%27/%3e"/></span><img alt="Choise.com team" srcSet="/_next/image?url=%2Fpic%2Fauthors%2Fchoise-team.png&w=32&q=75 1x, /_next/image?url=%2Fpic%2Fauthors%2Fchoise-team.png&w=48&q=75 2x" src="/_next/image?url=%2Fpic%2Fauthors%2Fchoise-team.png&w=48&q=75" decoding="async" data-nimg="intrinsic" style="position:absolute;top:0;left:0;bottom:0;right:0;box-sizing:border-box;padding:0;border:none;margin:auto;display:block;width:0;height:0;min-width:100%;max-width:100%;min-height:100%;max-height:100%"/></span></div><div class="author_name"><span class="dynamic_author"></span>Choise.com team</div></div></div><div class="content"><div class="main_image"><img title="Crypto Daily: Bitcoin prepares for a reversal" alt="Crypto Daily: Bitcoin prepares for a reversal" fetchpriority="high" width="742" height="0" decoding="async" data-nimg="1" class="directus_image " style="color:transparent" srcSet="/_next/image?url=https%3A%2F%2Fwebinar.choise.com%2Fwp%2F2021%2F11%2Fdaily_26th_nov.jpg&w=750&q=75 1x, /_next/image?url=https%3A%2F%2Fwebinar.choise.com%2Fwp%2F2021%2F11%2Fdaily_26th_nov.jpg&w=1920&q=75 2x" src="/_next/image?url=https%3A%2F%2Fwebinar.choise.com%2Fwp%2F2021%2F11%2Fdaily_26th_nov.jpg&w=1920&q=75"/></div><div class="content_block"><p><span style="font-weight:400">Altcoins have demonstrated multidirectional movement and their market dominance has slightly risen over the previous day. Now, the crypto market remains calm.</span></p><p><span style="font-weight:400">Let’s take a look at the Bitcoin chart and try to understand in which direction it’s going to move this weekend:</span></p><p><img loading="lazy" class="alignnone size-large wp-image-12713" src="https://webinar.choise.com/wp/2021/11/BTCUSDT_2021-11-26_09-46-54-1024x608.png" alt="btc usdt chart" width="1024" height="608"/></p><p><span style="font-weight:400">The price has been fluctuating below $60,000 for the last 10 days. The chart is squeezing in sideways, between the $56,000 and $60,000 levels. Sellers have stopped their strong pressure on Bitcoin, however, buyers are quite reluctant to take over. One gets the feeling that both sides are waiting for some signal or news to buck up.</span></p><p><span style="font-weight:400">Meanwhile, Bitcoin continues to move in a falling wedge that started to form a month ago. This can be the most important signal for the price to leave the local downtrend. Bitcoin has already dropped to the middle line of the figure, and now, it is moving somewhere around there.</span></p><p><span style="font-weight:400">At the same time, after Bitcoin had collapsed with the price declining significantly from its historical high, the chart formed a double bottom pattern. Early in the week, we mentioned that this pattern had already started to form but the figure finally took shape yesterday. This indicates that Bitcoin may grow by $4,000 to $63,500 after the $59,500 level was broken.</span></p><p><span style="font-weight:400">Additionally, a convergence has formed on the 4-hour chart showing the RSI oscillator. The Bitcoin chart peaks have been steadily decreasing in recent days, while the situation with this indicator is the opposite. This suggests that we may see Bitcoin starting a sharp upward trend in the near future. If BTC manages to gain a foothold in the $60,000 – $63,000 area or above, it will most likely experience a recoilless growth and establish a new all-time high.</span></p><p><span style="font-weight:400">The current calm on the cryptocurrency market is temporal. Market participants are gathering their strength and working out a plan for the next actions after Bitcoin set a new ATH of $69,000. Based on all the factors mentioned above, we believe that the first cryptocurrency’s uptrend will continue and Bitcoin will attract much attention again soon.</span></p></div></div><ul class="sc-a1b0f443-0 fTNNTN news_breadcrumbs"><li><a href="/news">News</a></li><li><a href="/news/dailyanalysis">Daily Analysis</a></li><li><span>Crypto Daily: Bitcoin prepares for a reversal</span></li></ul><div class="sc-ebb48054-0 hCkBCM"><button class="react-share__ShareButton" style="background-color:transparent;border:none;padding:0;font:inherit;color:inherit;cursor:pointer"><img src="/pic/share/twitter.svg" alt="Crypto Daily: Bitcoin prepares for a reversal"/></button><button class="react-share__ShareButton" style="background-color:transparent;border:none;padding:0;font:inherit;color:inherit;cursor:pointer"><img src="/pic/share/telegram.svg" alt="Crypto Daily: Bitcoin prepares for a reversal - Telegram"/></button><button class="react-share__ShareButton" style="background-color:transparent;border:none;padding:0;font:inherit;color:inherit;cursor:pointer"><img src="/pic/share/facebook.svg" alt="Crypto Daily: Bitcoin prepares for a reversal - Facebook"/></button></div></section></div></section></main><footer id="footer" class="sc-3dbed908-0 fGcfsC"><div style="max-width:1200px" class="sc-7bf978d5-0 jWSTwu center_block "><div class="top_block"><div class="content"><div class="description"><div class="description_information"><p>The website and mobile apps are owned by the company Choise Services UAB. 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reversal","date_created":"2021-11-26T05:47:32.000Z","image":null,"old_image":"https://webinar.choise.com/wp/2021/11/daily_26th_nov.jpg","seo_image":null,"category":{"id":"82","title":"Daily Analysis","slug":"dailyanalysis","translations":[{"title":"Daily Analysis","seo_title":null,"seo_description":null,"seo_keywords":null}]},"translations":[{"title":"Crypto Daily: Bitcoin prepares for a reversal","content":"\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eAltcoins have demonstrated multidirectional movement and their market dominance has slightly risen over the previous day. Now, the crypto market remains calm.\u003c/span\u003e\u003c/p\u003e\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eLet\u0026#8217;s take a look at the Bitcoin chart and try to understand in which direction it\u0026#8217;s going to move this weekend:\u003c/span\u003e\u003c/p\u003e\u003cp\u003e\u003cimg loading=\"lazy\" class=\"alignnone size-large wp-image-12713\" src=\"https://webinar.choise.com/wp/2021/11/BTCUSDT_2021-11-26_09-46-54-1024x608.png\" alt=\"btc usdt chart\" width=\"1024\" height=\"608\" /\u003e\u003c/p\u003e\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eThe price has been fluctuating below $60,000 for the last 10 days. The chart is squeezing in sideways, between the $56,000 and $60,000 levels. Sellers have stopped their strong pressure on Bitcoin, however, buyers are quite reluctant to take over. One gets the feeling that both sides are waiting for some signal or news to buck up.\u003c/span\u003e\u003c/p\u003e\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eMeanwhile, Bitcoin continues to move in a falling wedge that started to form a month ago. This can be the most important signal for the price to leave the local downtrend. Bitcoin has already dropped to the middle line of the figure, and now, it is moving somewhere around there.\u003c/span\u003e\u003c/p\u003e\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eAt the same time, after Bitcoin had collapsed with the price declining significantly from its historical high, the chart formed a double bottom pattern. Early in the week, we mentioned that this pattern had already started to form but the figure finally took shape yesterday. This indicates that Bitcoin may grow by $4,000 to $63,500 after the $59,500 level was broken.\u003c/span\u003e\u003c/p\u003e\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eAdditionally, a convergence has formed on the 4-hour chart showing the RSI oscillator. The Bitcoin chart peaks have been steadily decreasing in recent days, while the situation with this indicator is the opposite. This suggests that we may see Bitcoin starting a sharp upward trend in the near future. If BTC manages to gain a foothold in the $60,000 \u0026#8211; $63,000 area or above, it will most likely experience a recoilless growth and establish a new all-time high.\u003c/span\u003e\u003c/p\u003e\u003cp\u003e\u003cspan style=\"font-weight: 400;\"\u003eThe current calm on the cryptocurrency market is temporal. Market participants are gathering their strength and working out a plan for the next actions after Bitcoin set a new ATH of $69,000. Based on all the factors mentioned above, we believe that the first cryptocurrency’s uptrend will continue and Bitcoin will attract much attention again soon.\u003c/span\u003e\u003c/p\u003e","short_content":"Over the past 24 hours, the Bitcoin price has grown by 3% to the $58,000 mark. However, this did not lead to a significant increase in trading volume and volatility yesterday.","seo_title":null,"seo_description":null,"seo_keywords":null}]}},"__N_SSP":true},"page":"/news/[category]/[slug]","query":{"category":"dailyanalysis","slug":"crypto-daily-bitcoin-prepares-for-a-reversal"},"buildId":"pnPclDEvF5ORCHIipmwih","isFallback":false,"isExperimentalCompile":false,"gssp":true,"locale":"en","locales":["en","es"],"defaultLocale":"en","scriptLoader":[]}</script></body></html>