P95G BTC Market Weekly Report — Week of 11/23/2020
The Bitcoin price extended its gain for another week to reach $18,945 and then settled at $18,170. Given the strong upward momentum in the past weeks, it is possible for the price to approach $20,000 in the next 2 weeks.
The current support is at $18,000. In order to keep the current upward trend, the BTC price needs to stay above $18,000 and break the previous peak at $18,634. If the volatility remains high, the price would potentially break above $18,945 and extend its gain further. However, if the trading slows down, the price may settle in a range between $18,000 and $18,500 before the market determines the next trending direction.
Disclaimer: The above market commentary is based on technical analysis using historical pricing data, and is for reference only. It does not serve as investment or trading advice.
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