Bitcoin

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Bears are becoming more powerful, according to <a href="https://u.today/shib-price-analysis-for-november-15">CoinMarketCap</a>.
<img data-entity-type="file" data-entity-uuid="c3a26a04-cfa0-4280-8fba-0bc96e438f9d" src="https://u.today/sites/default/files/inline-images/top10_776.png">Top coins by<a href="https://coinmarketcap.com/"> CoinMarketCap</a>
<h2 class="text-align-justify" id="btc-usd">BTC/USD</h2>
Unlike other coins, the rate of Bitcoin (BTC) has risen by 1.33% over the last day.
<img data-entity-type="file" data-entity-uuid="c26ca46a-870a-4a6c-82bb-425b83dea8db" src="https://u.today/sites/default/files/inline-images/btc1_151.png">Image by&nbsp;<a href="https://www.tradingview.com/symbols/BTCUSD">TradingView</a>
On the hourly chart, the price of BTC might have found a local support level of $36,701. However, if the sellers' pressure continues, traders are likely to expect a further drop to the $36,500 zone soon.
<img data-entity-type="file" data-entity-uuid="44c33963-d94e-4fab-9761-ad52794b5831" src="https://u.today/sites/default/files/inline-images/btc2_135.png">Image by&nbsp;<a href="https://www.tradingview.com/symbols/BTCUSD">TradingView</a>
Bulls could not keep the rise after yesterday's bullish bar closure. If the situation does not change by the end of the day, there is a chance to see a test of the recently formed support of $35,388 by the end of the week.
<img data-entity-type="file" data-entity-uuid="85b69d46-6f3f-46da-8a77-bbfe0be2b154" src="https://u.today/sites/default/files/inline-images/btc3_134.png">Image by&nbsp;<a href="https://www.tradingview.com/symbols/BTCUSD">TradingView</a>
From the midterm point of view, it is too early to make any predictions, as the price of BTC does not have enough energy for a further move.
However, if the rate gets back to the $38,000 area and fixes there, one can expect a resistance breakout, followed by a test of the vital zone of $40,000 shortly.
Bitcoin is trading at $36,552 at press time.

Bitcoin (BTC) Price Analysis for November 16

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