empty
 
 
16.11.2020 02:25 PM
BTC analysis for November 16,.2020 - Breakout of the upside channel and potential for downside rotation towards $15.800

Further Development

This image is no longer relevant

Analyzing the current trading chart of BTC, I found that there is the breakout of the rising trend channel in the background and potential for another downside cycle.

My advice is to watch for selling opportunities on the rallies with the downside targets at $15,800 and $14,860

Key Levels:

Resistance: $16,500

Support levels: $15,800 and $14,860

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $3000 more!
    In September we raffle $3000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback