Bitcoin avoided recent lows as the BTC price reached $60,000 at the weekly close
Bitcoin (Bitcoin) Hovered around $59,000 at the close on November 21 to avoid retesting its recent lows.
BTC challenges $60,000
This pair has Reached a low of $55,650 This week, these were the lowest points in more than a month, but as mood improved, further retesting failed to materialize.
Therefore, analysts take a more calm view at the close of the week and therefore focus on the long-term to understand the overall health of the market.
“Since breaking through its black 200-day EMA, BTC has rebounded to a record high. Despite its recent retracement from ATH, it is still more than 50% higher than the 200 EMA,” Rekt Capital Summarize That day.
“Long-term investor sentiment is still bullish on Bitcoin.”
The indicators on the chain support a reasonable view, and the crypto fear and greed index is in the neutral zone, slightly below $60,000.
Network fundamentals have also not been affected by the events that happened this week Hash rate Maintaining near historical highs, and the next adjustment due on November 27, the difficulty is still expected to rise slightly.
At the same time, trader Pentoshi identified the area between $59,000 and $61,000 as a point for cautiously re-entering the spot long if the area is successfully recovered.
Partial top and bottom $ ETH
How I plan to trade it. Look for LH from here to 4570. *IF* 4570 is flipped and is happy to repurchase higher
Playing for LH and second leg, down to 36xx
same Bitcoin Look for 59-61. If recycle = repurchase, otherwise look for LH
— Pentoshi will not call you. Hate Dm. DM is a scam (@Pentosh1) November 19, 2021
“In general, Bitcoin’s super cycle and extended cycle are still the same,” Cointelegraph writer Michaël van de Poppe Add to.
Ethereum, avalanche leads the slow altcoin market
Regarding altcoins, ether (Ethereum) Is one of the most stable currencies among the top 10 cryptocurrencies by market capitalization on Sunday, but the trend is basically flat.
At the time of writing, the ETH/USD transaction price rose by 2.3%, while the outlier Avalance (AVAX) Delivered a 12% return After more than 24 hours, it entered the top 10 for the first time and launched Dogecoin (dog).
Despite a sudden rebound on Saturday, BTC/USD still rose by about 1.8%.