Hello and welcome to another brand new video update on the crypto market. Today is Tuesday November 28th and I would like to discuss with you the latest developments in the crypto world. In this video I discuss Bitcoin (BTC), Ethereum (ETH) and Avalanche (AVAX). This analysis is based on my own views and does not constitute financial advice.
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Bitcoin faces major resistance
The Bitcoin chart shows interesting movements. We see that the resistance around $38,000 is an important point to keep an eye on. Bitcoin price recently found support around $35,700, which proved to be a good time for accumulation.
Interestingly, despite a brief surge above this resistance, the price still closed below $38,000. This suggests continued resistance at this level.
The price development of Bitcoin seems to be predictable within certain limits. The downward momentum is relatively weak compared to the upward momentum. This is possible if bullish are interpreted. The 21-day moving average serves as support, but is currently being tested extensively.
I am currently waiting and watching the price movements around $38,000. A break above could result in a rise to around $40,000-$41,000.
Personally, I don’t think this is the right time to accumulate as I have already accumulated around $35,700. I will wait and watch the $38,000 resistance closely. The price could continue to move sideways, which could be beneficial for the momentum indicators.
For a more in-depth analysis and analysis of Ethereum and AVAX, watch my video above. I will keep you fully updated on crypto prices!
Bitcoin, NFTs and stocks
David has been working with cryptocurrencies since 2013. In 2018, he became part of the Crypto Insiders team, sharing weekly price updates and macro updates. In 2021, in addition to his work as a shareholder at Catena Investments, he started a YouTube channel to share his knowledge and insights about investing in cryptos, stocks, NFTs and other assets. Would you like to learn more about his vision and insights? Then follow him on his YouTube channel!
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