Bitcoin analysis for November 29, 2017

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The Bitcoin (BTC) has been trading upwards. As I expected, the price tested the level of $10.922. With all eyes on bitcoin's meteoric break of $10,000, less attention has been paid to the price milestones recently established on leading international markets. In recent weeks, the CAD, AUD, NZD, and SGD pairings also surpassed $10,000, whilst a single bitcoin exceeds 500,000 RUB in Russia, 1 million JPY in Japan, 10 million KRW in South Korea, and 100 million INR in Indonesia. Technical picture looks bullish.

Trading recommendations:

According to the 15M time frame, I found an upward channel and the price respecting this channel, which is a sign that buyers are in control. I also placed Fibonacci expansion to find a potential upward target. I found Fibonacci expansion 161.8% at the price of $11.400.

Support/Resistance

$10.645 – Intraday support 1

$10.580 – Intraday support 2

$11.400 – Objective target

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