November Bitcoin Analysis. Hello, good time, friends! How are you? How is the process for you? positive or negative
Bitcoin can start two different scenarios in November.
The first scenario: if the $36,000 support range is destroyed, the price of Bitcoin can break to lower levels.
In this case, it is possible that the decline will reach the range of 33 thousand dollars.
The second scenario: if the support range of $36,000 is not broken down and it suffers on this price until the end of the year, the price of Bitcoin is likely to rise above $55,000.
It is better here to discuss the approval or not of Bitcoin spot funds by the US Securities and Exchange Commission.
According to what decision the Securities Exchange Commission will make for Bitcoin ETFs, it will be known at the beginning of next year.
If the funds are confirmed, the price of Bitcoin will get a strong rise. There are only less than 50 days left until the Securities and Exchange Commission’s decision on bitcoin spot funds.
Therefore, it is expected that the price of Bitcoin will fall during this period.
If you look at the Bitcoin chart on monthly time frames, the pattern that is being prepared is a cup and handle pattern.
In this pattern, the cup is made and the handle is being made. Therefore, to make a cup handle, the price can reach 33 thousand dollars.
Bitcoin analysis looks bearish in November! Do you agree with my analysis?
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