Bitcoin (BTC), Ethereum (ETH) – 25th November 2021

Thu 25 Nov 2021 ▪ 12h31 ▪ 2 min read — by James Taylor

Today is Thursday, 25th November, and this is Cointribune’s Crypto analytics. You will learn about what’s been going on in the market, as well as what to expect next in our new article! Make sure to have a look at the previous instalment. Off we go!

Bitcoin (BTC)

The previous day began with a big collapse for the first cryptocurrency, sending BTC below $56,000. However, by the end of the day, Bitcoin made an attempt to climb higher, reaching $58,000. So, we hit a new local high, and hopefully, the current movement will turn into a flat supported by psychological resistance. However, right now, BTC is starting to decline and has almost lost everything it managed to achieve over the past few hours.

Despite hitting a new high, there was no consolidation happening. We can probably assume that if by the end of the day Bitcoin doesn’t gain a foothold above $58,500, we’re in for another collapse to $55,000 or lower.

In order to continue growing, Bitcoin needs a local maximum above $60,000.  If we have a look at the local highs over the past nine days, we can conclude that they are lower and lower every time, thereby supporting the local downtrend.

Ethereum (ETH)

Ethereum continues to follow the first cryptocurrency. The largest altcoin started off with another attempt to grow, but with BTC weakening once again, ETH was quick to follow suit.

Thus, right now, ETH is steadily losing in price and is preparing for another retest of support in the $4000 area.

Take advantage of market collapses to build up your portfolio, and feel free to sell when the market recovers, in parts, of course. In this case, not only will you profit off of the current situation, but also have the money needed to make new profitable purchases.

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James Taylor

Trends are temporary. The blockchain isn’t a trend; it’s the future. I want to help as many people as possible understand it in a simple, clear and interesting way.

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.

Prices & Indices

BITCOIN (BTCUSD) $54,374.94 -0.73%
ETHEREUM (ETHUSD) Ξ $4,058.32 -1.02%
DEFI (DEFIPERP) $11,668.60 -3.47%
MARKETS (ACWI) $103.37 -2.44%
GOLD (XAUUSD) $1,791.76 0.19%
TECH (NDX) $16,025.58 -2.09%
CURRENCIES (EURUSD) $1.13 0.9%
CURRENCIES (EURGBP) £0.847380 0.81%
CRUDEOIL (USOIL) $68.16 -12.63%
IMM. US (REIT) $2,733.76 -2.78%
The percentage expresses the change over the past 24 hours BUY CRYPTOS WITHOUT RISK
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