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Bitcoin (BTC), Ethereum (ETH) – 22nd November 2021

Mon 22 Nov 2021 ▪ 9h46 ▪ 2 min read — by Rudy Bauer

Today is Monday, 22nd 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)

Bitcoin attempted a recovery, but as I suspected, the first cryptocurrency still doesn’t have enough strength. As a result, we witnessed another collapse, with the biggest digital asset already close to its recent local lows.

This gives us a second opportunity to retest the psychological resistance in the range close to $55,000. In case the bears fail to concede the initiative, we will get a long red candle, which may well lead us to the $48,000–$50,000 range. If the bulls show their strength, however, a double bottom pattern may form. In that case, many players will conclude that the support has withstood the bearish onslaught and we have touched a local bottom, from which buying will start.

The chance that a double bottom will form is not great, so personally, I expect the first cryptocurrency to go lower. This is not an investment recommendation.

Ethereum (ETH)

Ethereum has followed in the footsteps of Bitcoin. As a result, the second most capitalised cryptocurrency continued to decline towards resistance around $4,000 and has every chance of going lower.

Overall, the situation in ETH now strongly resembles what’s happening with Bitcoin. We’re waiting for further developments.

Take advantage of this opportunity to pick up assets of interest at throwaway prices, as there is still no signal for a full market reversal. Don’t forget to place your stop losses and don’t neglect risk management.

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Rudy Bauer avatar
Rudy Bauer

Photographe, Vidéaste, webdesigner et enfin rédacteur pour CoinTribune: l'image, le digital et la blockchain sont mon dada.

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) $20,905.04 -0.59%
ETHEREUM (ETHUSD) Ξ $1,203.39 0.45%
DEFI (DEFIPERP) $2,799.70 -1.63%
MARKETS (ACWI) $86.06 -0.29%
GOLD (XAUUSD) $1,822.95 -0.22%
TECH (NDX) $12,008.23 -0.8%
CURRENCIES (EURUSD) $1.06 0.23%
CURRENCIES (EURGBP) £0.862500 0.38%
CRUDEOIL (USOIL) $109.84 2.15%
IMM. US (REIT) $2,441.27 -0.16%
The percentage expresses the change over the past 24 hours BUY CRYPTOS WITHOUT RISK
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