BTCUSD Technical Analysis – November-14-2023


FxNews — BTCUSD bears had the upper hand, closing below the $36,538 pivot. Yet, a twist appears: a hammer candlestick emerges on the 4-hour Bitcoin chart. Post that, prices rebounded above the pivot. Meanwhile, the RSI indicator hints at bullish momentum, crossing above 50.

If BTCUSD sustains this rise above the pivot, watch for a potential surge. The targets? The November high and the $38,546 resistance (R1), aligning with the bullish flag’s upper boundary.

But, if Bitcoin dips below the pivot again, brace for a slide towards $35,078 (S1). Stay tuned for more twists and turns in BTCUSD’s journey.

BTCUSD Technical Analysis

BTCUSD Technical Analysis – 4H Chart

  • 14 November 2023
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