Bitcoin Technical Analysis 25 November, 2021

• Bitcoin reversed from the support zone
• Likely to rise to resistance level 66400.00

Bitcoin cryptocurrency recently reversed up from the support are located between the key support level 5568.00 (which formed the daily Hammer earlier this month), lower daily Bollinger Band and the 50% Fibonacci correction of the upward impulse wave (i) from the start of October. The upward reversal from this support zone stopped the previous corrective wave (ii).

Given the predominant daily uptrend and the improvement in risk sentiment as seen across the cryptocurrency markets today, Bitcoin cryptocurrency can be expected to rise further in the active impulse wave 3 toward the next resistance level 66400.00 (former support from the start of this month).

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