Crypt in the White House – Donald Trump is reportedly considering creating a position dedicated to cryptocurrency policy in the White House, a brand new initiative when the price of Bitcoin is just a few thousand dollars from $100,000. The king of cryptocurrencies has had a very strong momentum since the beginning of November, attracting almost all the capital from investors. Is BTC Heading For $120,000? Here is the bulletin for November 21st!
Bitcoin price rises 5% in 24 hours
The month of November is not over yet, but the price of Bitcoin shows a an impressive increase of almost 40%. For a better performance than in February, it will be necessary to farea more than 43.5% at closure. And given the current trend, it seems quite possible:
| Few | 1H | 24H | 7D | 1 million | 3M | 6M |
|---|---|---|---|---|---|---|
BTC/ETH |
-0.78% | 4.31% | 11.28% | 21.38% | 35.69% | 69.49% |
BTC/USDT |
-0.09% | 5.02% | 7.86% | 43.44% | 59.36% | 41.00% |
Bitcoin performance against different pairs. Source: Coincheckup
BTC is rising 5% in 24 hoursfrom 8% in one week and more than 40% in one month. At the same time, The BTC/ETH pair is exploding also. Ethereum is struggling to keep up and remains around $3,100.
The price of Bitcoin could be heading towards $120,000
The king of cryptocurrencies is clearly va a new phase of the uptrend after she lateralized a few months around 70,000 dollars. It would be necessary two main catalysts fly on 70,000 dollars :
That’s why the price of bitcoin has succeeded hold the 350 day moving average (orange curve) of the Golden Ratio Multiplier indicator. The power of buyers even made BTC possible join at 1.6 times the 350-day moving average (green curve) around 97,000 dollars :
This is a resistance level for the king of cryptocurrencies. But the course could exceed this level, as in 2021. And in this case, another level of resistance according to the indicator is multiple of 2 (red curve) to $120,000. It’s on the same red curve the course failed in March.
BTC price poised to reach $100,000
Course a chain of troughs and rising peaks several weeks and all feedback on the level institutional bias (EMA 9/EMA 18) bullish generates rebounds. Buyers control the price of Bitcoin and BTC should reached $100,000 in the next few hours or days.
In the event of a decline, the price could rely on 9 and 18 moving averages are bullish and on support at $92,500. As for his part, RSI is in process bounceit will be necessary surpass the last peak at 90 to avoid markingrunning out of breath with a potential bearish divergence.
The price of Bitcoin is very quickly approaching the psychological round number of $100,000. If buyers manage to break this level, the price could be heading towards the next important resistance level according to the golden ratio multiplier: $120,000. And according to some on-chain indicators, BTC is still not overheating.