Bitcoin (BTC) Price Prediction for November 14

11/14/2024 19:49
Bitcoin (BTC) Price Prediction for November 14

Is price of Bitcoin (BTC) ready for correction?

Original U.Today article

Is price of Bitcoin (BTC) ready for correction?

Bitcoin (BTC) Price Prediction for November 14

Cover image via U.Today

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

The market has not reached the overbought zone yet, according to CoinStats.

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BTC chart by CoinStats

BTC/USD

The rate of Bitcoin (BTC) has gone up by 3.86% since yesterday.

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Image by TradingView

On the hourly chart, the price of BTC is above the local resistance of $90,629. If the daily bar closes above this mark, growth may continue to the $92,000-$93,000 range shortly.

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Image by TradingView

On the bigger time frame, the rate of the main crypto is trading within yesterday's bar, which means none of the sides is dominating.

Related

Bitcoin (BTC) Price Prediction for November 12

Thus, the volume has reduced, confirming the absence of bullish energy. In this case, sideways trading in the zone of $89,000-$92,000 is the more likely scenario.

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Image by TradingView

From the midterm point of view, traders are focusing on the weekly candle's closure. If it happens around its peak, the rise may lead to a test of the $100,000 zone.

Bitcoin is trading at $90,561 at press time.

About the author

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Denys Serhiichuk

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at [email protected].

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