Bitcoin analysis for November 20, 2017

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The Bitcoin (BTC) has been trading upwards. As I expected, the price tested the level of $8,136. Hundreds of thousands of dollars worth of BCH is languishing in segwit addresses. The funds were mistakenly sent there by users who have no easy way of differentiating segwit and non-segwit addresses. Retrieving the funds is difficult, but not entirely impossible, as p2sh.info's Antoine Le Calvez has revealed. He's discovered what's believed to be the first successful bitcoin cash recovery, aided by the miners who confirmed the transaction. The techical picture looks bullish.

Trading recommendations:

According to the 1H time frame, I found the resistance at the price of $8.031 is broken. My advice is to watch for potential buying opportunties. The upward targets are set at the price of $8.196 and at the price of $8.405.

Support/Resistance

$7.732 – Pivot level

$8.126 – Pivot resistance 1

$8.405 – Pivot resistance 2

$7.477 – Pivot support 1

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