Bitcoin is not totally bust just yet but it has sustained quite a few dents in the last few months. Right now it is in green trading zone and it seems that that the buyers have a bit of interest after all. The Crypto has gained 93.91 in the last 24 Hours of trade. We have seen visible signs of a reversal in the trading sessions and this can one of those days. On 10th of November 2021 Bitcoin ascended to an all-time high price of $68000 but confronted an immediate selling binge of unprecedented proportions. To date the prime digital currency has lost $40473.28 or 59.52% of its value to active sellers. In that perspective I don’t necessarily see a lot of enthusiasm amongst the buyers just yet and today’s price increment can probably be categorized as mediocre at best, and it can easily change directions within the course of the day, unless of course it jumps well over psychological barrier of 2%. At present the Bitcoin is trading in a rather limited range duly reflected in price.

Though the time frame or definition of trend might vary. Some analyst agree that the medium term trend is extremely important when analyzing an instrument of similar nature. Bitcoin has gained $ in the last 31 days which implies that the trend is now positive in my view which bodes well for buyers. The long term technical view on the Bitcoin charts stays the same for me i.e. negative, and though it isn’t a bright outlook in any possible manner but a certain threshold of buyers interest is required to break the pattern and reverse the reading on this indicator.

Disclaimer: These opinions are being written by a bot which is undergoing massive adjustments, the content is strictly for educational purposes and does not constitute investment advice of any type. Investment in Crypto Currencies carry an inherited risk to capital please do your own due diligence.

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