{"id":53428,"date":"2021-11-23T19:14:14","date_gmt":"2021-11-23T17:14:14","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=53428"},"modified":"2025-09-03T15:05:21","modified_gmt":"2025-09-03T12:05:21","slug":"futures-analysis-sellers-intensify-pressure-on-bitcoin","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/futures-analysis-sellers-intensify-pressure-on-bitcoin\/","title":{"rendered":"Futures analysis: sellers intensify pressure on Bitcoin"},"content":{"rendered":"

On November 19, the price of Bitcoin fell to $55,650, and over the following couple of days recovered to $60,000. On Monday, the price of the first cryptocurrency began to fall again: at the time of publication it had reached $56,000.<\/p>\n

On which levels will the current correction stop? We analyse price levels of Bitcoin and Ethereum on the cryptocurrency exchange Bybit<\/a>.<\/p>\n

BTCUSD<\/h2>\n

At the start of the week, sellers could not hold the price above $58,000. As a result of the downside impulse, Bitcoin updated its local low at $55,200.<\/p>\n

\"Futures
Support levels on the daily chart BTCUSD<\/a> Perpetual Contract (Bybit). Data: TradingView<\/a>.<\/figcaption><\/figure>\n

The next strong support is at $53,000. With the current negative market dynamics, the price of BTCUSD<\/a> could reach it in the coming days.<\/p>\n

If it breaks $53,000, Bitcoin could test the rising trendline that formed at the lows of $29,500 (July 21) and $40,700 (September 29).<\/p>\n

ETHUSD<\/h2>\n

The situation in the ETHUSD market ETHUSD<\/a> looks better: buyers managed to hold the asset price above the support level of $4,030.<\/p>\n

\"Futures
Support levels on the daily chart ETHUSD<\/a> Perpetual Contract (Bybit). Data: TradingView<\/a>.
\n<\/figcaption><\/figure>\n

If Bitcoin’s price continues to fall, Ethereum could likewise drop to support near $3,600.<\/p>\n

Conclusions<\/h2>\n

Bitcoin and Ethereum prices have not yet completed the correction after the unsuccessful test of $60,000 and $4,400 at the end of last week.<\/p>\n

For a resumption of growth, strong buyers are needed at the support levels of $53,000 for Bitcoin and $3,650 for Ethereum.<\/p>\n

Subscribe to ForkLog news on VK<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

On which levels will the current correction stop? We analyse price levels of Bitcoin and Ethereum on the Bybit exchange.<\/p>\n","protected":false},"author":1,"featured_media":53429,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"2","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1151,1168,1253],"class_list":["post-53428","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bybit","tag-crypto-derivatives","tag-technical-analysis"],"aioseo_notices":[],"amp_enabled":true,"views":"13","promo_type":"2","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/53428","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=53428"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/53428\/revisions"}],"predecessor-version":[{"id":53430,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/53428\/revisions\/53430"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/53429"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=53428"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=53428"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=53428"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}