Bitcoin (BTC) Price Prediction: BTCUSD Consolidates Above $55,700 as Bitcoin Battles $60k High

BTC/USD Is Trading Marginally as Bitcoin Battles $60k High -November 24, 2021

On November 19, BTC/USD plunged to $55,653 low as Bitcoin battles $60k high. BTC price corrected upward but was repelled at the $60,000 resistance. For the past week, the cryptocurrency has been fluctuating between $55,700 and $60,000 price levels. Today, Bitcoin is trading at $56,449 at the time of writing.

Resistance Levels: $70,000, $75,000, $80,000
Support Levels: $50,000, $45,000, $40,000

BTC/USD – Daily Chart

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For the past six days, the bears have retested the crucial support above $55,700 on four occasions as bulls bought the dips. If the current support holds, buyers will attempt to break above the moving averages. Nonetheless, the bullish momentum will extend and break above the $64,000 high. This will propel Bitcoin to resume upside momentum. Buyers will push Bitcoin northward to retest the $68,000 overhead resistance. Conversely, if the selling pressure resumes and the bears break below the $55,650 support, the BTC price will sink to the $50,000 psychological price level. This will result in a deeper correction for Bitcoin price. In the meantime, BTC’s price is still correcting between $55,700 and $60,000 price level.

Odell Beckham Junior to Accept NPL Salary in Bitcoin

Odell Beckham Junior is a member of the Los Angeles Rams football team. He has indicated his intention to receive his $4.25 million National Football League salary in Bitcoin. The $4.25 million National Football League salary is comprised of a base salary of $750,000 in addition to a signing bonus of $500,000. This is in addition to incentives totaling $3 million for the 2021 session.

Bitcoin (BTC) Price Prediction: BTCUSD Consolidates Above $55,700 as Bitcoin Battles $60k High — BTC/USD – 4 Hour Chart

Meanwhile, BTC’s price is trading marginally above the $55,700 support as Bitcoin battles $60k high. Since November 19, the BTC price has been stable above the $55,700 support. A rebound above the current support will propel price to breach the $60,000 high. Today, the upward move is facing rejection at a recent high.