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Free Bitcoin Analysis November 16, 2021

November 16, 2021

Reading Time: < 1 minute


  • Yello, ladies and gentlemen😎!

Bitcoin to test 100k in months❔

💎The Bitcoin uptrend remains intact as the price continues to produce higher highs and higher lows on a weekly timeframe

💎After price bounced off the $39,600 demand area, BTC went up and produced a new all-time high

💎Current supply zone is near $57,600, which corresponds to 327.2% Fibonacci retracement level

💎 Price bounced off cleanly off this support, implying the further price increase in the long run

💎As long as the weekly closing price remains above $57,600, the Bitcoin will continue to move north, potentially towards the $96.500 resistance

💎Based on the extended ascending channel and Fibonacci cycles, 100k resistance area can be tested within three months


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