Bitcoin (BTC), Ethereum (ETH) - 12th November 2021
Today is Friday, 12th November, and this is Cointribune’s Crypto analytics. You will learn about everything that’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‘s price was relatively flat throughout Thursday, rangebound to $65,000-$66,000; the cryptocurrency is changing hands at around $64,800 at the moment of writing. At the last moment bears made sure the daily candle close ended up in the red.
The $65,000 resistance zone will be quite difficult to overcome. Once Bitcoin gains a foothold above it, traders should start preparing for new ATHs. However, another correction is still in play, so make sure to be ready for BTC dipping all the way to $60,000-$62,000 area. This weekend will be very important for the crypto market.
Traders’ best options currently include opening long positions or waiting for the $60,000 level in order to buy low.
Ethereum’s price has been steadily rising in the past 24 hours. The cryptocurrency is changing hands at around $4,770 at the moment of writing.
Nothing seems to influence Ethereum nowadays — it’s almost like the cryptocurrency doesn’t depend on Bitcoin anymore. However, the psychological resistance zone of $5,000 is just around the corner, and its strength is bolstered by the fact that it’s so close to Ethereum’s ATH. Traders should be prepared for ETH to become unpredictable for quite a while.
Stop-loss orders will always remain a good way to hedge your bets. Bitcoin is trading on a flat note today, however, we must not lose our optimism — the next level of resistance is very likely to be crossed this weekend.
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I went full time crypto back in June 2018, and have never looked back. I want to help persuade as many people as possible to come and build the decentralised future! Let’s go!
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.