For Traders

Analytical Reviews

Crypto-currencies

26.11.202014:22 Forex Analysis & Reviews: BTC analysis for November 26,.2020 - Both downside targets reached at $17.528 and potential for further drop towards $15.825

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Further Development

Analyzing the current trading chart of BTC, I found that BTC reached both my yesterday's targets at $18,647 and $17,260.

Anyway, the momentum is very strong to the downside and my advice is still to watch for selling opportunities with the new downside targets at $15,825 and $15,150.

The main cause of the stronger downside movement was the lack of buyers and overbought/extended condition prior to the drop.

Key Levels:

Resistance: $17,570 and $18,00

Support levels: $ 15,825 and $15,150

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.

Earn on cryptocurrency rate changes with InstaForex

Download MetaTrader 4 and open your first trade