Bitcoin (BTC) Price Analysis for November 25

The weekend has started with a neutral mode on the cryptocurrency market.

BTC/USD

The rate of Bitcoin (BTC) has fallen by 0.11% over the last 24 hours.

On the daily chart, the price of BTC has made a false breakout of the local support level at $37,670. However, if the daily candle closes near it, there is a chance of a decline to the $37,500 zone tomorrow.

On the bigger time frame, the rate of BTC has failed to break through the level of $38,000 and fix above it.

Until it happens, traders may expect a correction to the $37,000-$37,500 area soon.

A similar picture is on the weekly chart. If the bar closes far from the $37,988 level, bears may seize the initiative, which can lead to a drop to the $36,000 range next month.

Bitcoin is trading at $37,703 at press time.

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