BTCUSD Daily Forecast Nov 16 2018

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50
Forex -BO -6598

Bitcoin: Bearish, Eyes On 4950 Level…

As long as 5757 resistance holds on a daily closing basis, the BTCUSD remains on the downside to 5290 ahead of 4950 level. A halt is likely, it may test 5290 before attempts to break below 4950. Anyway; below 4950 aims 4535 level, further down, support comes at 4070 level.

On the upside, resistance comes at 5290 ahead of 5757 level. A break will turn outlook neutral for testing 6029 level, further upside, resistance comes at 6261 level (main).

Conclusion: The bitcoin sees downside threats below 5757 level. Above 5757 faces limited gains below 6261 level…

Support: 5290, 4950, 4535, 4070

Resistance: 5290, 5757, 6029, 6261

 

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