Price
The BTCUSD price fell below 6300 level, which turned into a resistance during Tuesday. Remarkably, that Bitcoin/Tether price holds above 6400 level, makes a significant difference between the most popular stablecoin and real USD value. Locally, BTCUSD follows the weekly downtrend line and already reaching the main 2018 support zone, which showed its supportive nature earlier in October. If the price will manage to bounce-off from the 6200 support, a breakthrough above 6300 will be needed to confirm the turnaround tendency. Dive below 6200 will open the main supportive zone, with 6000 psychological support and yearly low at 5750.
Today forecast
Trading Bounds: 6200 – 6300.
Latest opinions
The BTCUSD price fell below 6300 level, which turned into a resistance during Tuesday. Remarkably, that Bitcoin/Tether price holds above 6400 level, makes a significant difference between the most popular stablecoin and real USD value. Locally, BTCUSD follows the weekly downtrend line and already reaching the main 2018 support zone, which showed its supportive nature earlier in October. If the price will manage to bounce-off from the 6200 support, a breakthrough above 6300 will be needed to confirm the turnaround tendency. Dive below 6200 will open the main supportive zone, with 6000 psychological support and yearly low at 5750.
Today forecast
Trading Bounds: 6200 – 6300.
Latest opinions
- Number of transactions in the Bitcoin network reached a 10-month maximum
On November 12, the daily number of confirmed transactions in the main Bitcoin network exceeded 300,000. The last time, according to blockchain.com, indicators were at this level at the end of January.
Note that the maximum Bitcoin values were reached in December 2017, when a daily number of transactions in the network was over 490,000. The decline continued until April of this year when the figure reached a minimum of 135,129, and then a gradual recovery began. At the same time, the network hash rate showed a steady growth since December, but the last two months were characterized as a flat between 45 TH / s and 60 TH / s.
Despite the growth of transactions, the price of Bitcoin is still showing sideways movement in the region of $ 6,200 - $ 6,500.
