Bitcoin (BTC) Price Analysis for November 25
The weekend has started with a neutral mode on the cryptocurrency market.
BTC/USD
The rate of Bitcoin (BTC) has fallen by 0.11% over the last 24 hours.
On the daily chart, the price of BTC has made a false breakout of the local support level at $37,670. However, if the daily candle closes near it, there is a chance of a decline to the $37,500 zone tomorrow.
On the bigger time frame, the rate of BTC has failed to break through the level of $38,000 and fix above it.
Until it happens, traders may expect a correction to the $37,000-$37,500 area soon.
A similar picture is on the weekly chart. If the bar closes far from the $37,988 level, bears may seize the initiative, which can lead to a drop to the $36,000 range next month.
Bitcoin is trading at $37,703 at press time.