Bitcoin (BTC) Price Analysis – November 12

  • The price of Bitcoin finds support at the $6,400 price level.
  • Bitcoin price will revisit the lower level of the price range if sellers are in control.

Bitcoin, BTCUSD, CryptoCompare chartBitcoin Chart by Trading View

BTCUSD Medium-term Trend: Ranging

Resistance levels: $7,200, $7,300, $7,400

Support levels: $6,300, $6,200, $6,100

Last week the BTCUSD pair was in a bullish trend. The crypto faced resistance at the $6,600 price level and the digital currency saw a downtrend trend. It was suggested that if the crypto’s price broke the $6,400 price level, bitcoin would slide into the critical support level. On November 9, the crypto’s price fell to the $6,418.70 price level and commenced a bullish movement.

The bulls resisted the bears from encroaching at the lower level of the price range. On the other hand, if sellers are in control, the digital currency will find support at either $6,200 or $6,000. Nevertheless, from the price action, the digital currency is below the 12-day EMA and the 26-day EMA which indicates that the price is in the bearish trend zone. The BTC price may likely revisit the lower level of the price range. 

The Stochastic indicator is in the range above 40 which indicates that the momentum is increasing on the upside.

BTCUSD Short-term Trend: Bullish

Bitcoin, BTCUSD, CryptoCompare chartBitcoin Chart by Trading View

On the 4-hour chart, the BTC price is in a bullish trend. The Stochastic is in the range below 80 which indicates a buy signal and the momentum of price is increasing on the upside. Meanwhile, the price of Bitcoin is still below the 12-day EMA and the 26-day EMA which indicates that the price is in the bearish trend zone.

 

The views and opinions expressed here do not reflect that of CryptoGlobe.com and do not constitute financial advice. Always do your own research.

BitFlyer Commemorated Bitcoin Pizza Day with Donation to Homeless Shelters

Michael LaVere
  • Crypto exchange BitFlyer commemorated Bitcoin's Pizza Day by donating pies to local homeless shelters.
  • In 2010, computer programmer Laszlo Hanyecz paid 10,000 BTC for two pizzas. 

Cryptocurrency exchange BitFlyer commemorated the infamous Bitcoin Pizza Day by donating pies to a number of homeless shelter organizations. 

In 2010, one year after bitcoin’s initial launch, Bitcointalk.org forum user and programmer Laszlo Hanyecz became recognized as the first person to pay for goods with the cryptocurrency. In a moment that has since been immortalized, Hanyecz paid another forum user 10,000 BTC to have two Papa John’s pizzas delivered to him.

The bitcoin, valued around $41 in 2010, would be worth more than $92 million at today’s prices. 

Cryptocurrency exchange BitFlyer commemorated the ten-year anniversary of the event by ordering pizzas for local homeless shelters. 

BitFlyer chief operating officer Joel Edgerton told Cointelegraph the exchange had coordinated the event with shelter managers. 

He said, 

We ordered the pizzas ourselves from a local chain and delivered them to the homeless shelters. We worked closely with the managers of the shelters to ensure they get the appropriate amount and get there on time.

Featured Image Credit: Photo via Pixabay.com