Baxia Markets
November 19, 2021

Bitcoin is down more than 15% in the last five days.

technical analysis top header -01

The cryptocurrency found a retracement after reaching a new all time high of $69,000 on November 10th, since then, it is down 20% and it looks like it's heading towards the support level in our 36.8% Fibonacci retracement on $53,835.


The Bollinger bands are opening up aggressively in the last three sessions, the current price is trading below the lower band, indicating that the price is relatively low; however, this doesn't seem to be stopping the dive.


BTC Nov 15th 2021


The relative strength index is at 35% a level not seen since late July, when it started the massive rally it has been on since, if the RSI gets any lower we could be looking at a big comeback for the crypto in the mid-term. The price is currently inside the Ichimoku cloud which is often seen as market uncertainty.


We love to hear new ideas from traders and want to know what you think! 


If you like this topic and want to suggest future topics that you find helpful, let us know by clicking the ‘submit your feedback’ button below.


Open Live Account  


Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. 


Nothing contained in this website should be construed as investment advice. Any reference to an investment's past or potential performance is not, and should not be construed as, a recommendation or as a guarantee of any specific outcome or profit. 


Subscribe by Email