empty
 
 
29.11.2023 02:36 PM
Technical analysis on Bitcoin for November 29th, 2023.

This image is no longer relevant

Red lines- short-term support trend lines

Blue lines- bearish RSI divergence

Bitcoin is trading around $38,288. Short-term trend remains bullish. Price continues making higher highs and higher lows. The RSI continues forming lower highs providing us with bearish divergence signals. The RSI suggests that the up trend is weakening. This of course is not a reversal signal. Only a warning. Traders need to be cautious as a pull back lower is imminent. A break below the short-term upward sloping red trend line will confirm the top and the start of the expected pull back. Until then, bulls remain in full control.

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 $1000 more!
    In October we raffle $1000 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