Chart Of The Day: Bitcoin Could Be Heading To $50,000…In The Short Term – Investing.com
- Date: 23-Nov-2021
- Source: Investing.com
- Sector:Financial Markets
- Country:Middle East
Chart Of The Day: Bitcoin Could Be Heading To $50,000…In The Short Term – Investing.com
is on course for its worst back-to-back weekly selloff since it topped out in mid May from then record high levels. The largest cryptocurrency by market cap is currently trading above the day's lows—which were below $56K—distancing its price nearly 20% from its Nov. 10 all-time high, above $68,000. It could also be heading for its lowest levels since Oct. 20.
After a prolonged rally on expectations, investors are now selling off the token after r indicated that "creditors of collapsed crypto exchange Mt Gox might liquidate their payments."
Could today's uptick indicate the selloff might be over, providing a buying dip? We think not based on technical indicators.
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