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.

Kanye Says He Wants to Run for President, Bitcoin Fan Elon Musk Endorses Him

Siamak Masnavi

American rapper, singer, songwriter, record producer, composer, entrepreneur and fashion designer Kanye West celebrated July 4, U.S. Independence Day, by announcing his intention to run for U.S. president in 2020.

So how did Kanye launch his bid to be on the ballot at the 2020 United States Presidential Election, which is scheduled for 3 November 2020?

Well, late on Saturday afternoon (California team), Kanye sent out the following tweet:

Minutes later, came this endorsement from Tesla and SpaceX CEO Elon Musk, who has often expressed his interest in cryptocurrency in general and Bitcoin in particular:

Not wanting to be left out of the conversation, a couple of hours, American media personality, businesswoman, socialite, model, musician, and actress Paris Hilton made it clear that she would not mind being U.S. president either:

As FOX News reported a short time ago, this is not the first time that Kanye has expressed his intention to become U.S. president.

Apparently, back in November 2019, at the fifth annual Fast Company Innovation Festival in New York City, he said that he planned to run for U.S. president in 2024:

"When I run for president in 2024, we're going to definitely -- yo, whatchu [sic] all laughing at? When I run for president in 2024, we would've created so many jobs that, in fact, I'm going to walk...

"What I'm saying is, when y'all read the headlines, 'Kanye's crazy,' this and that, this and that, it's like one in three African-Americans are in jail and all of the celebrities are in jail also because they can't say nothing [sic]! They've got no opinion! They're so scared!"

According to the U.S. Constitution, here are the requirements for presidential candidates:

  • be a natural-born U.S. citiizen
  • be at least 35 years old
  • be a U.S. resident for at least 14 years

Since Kanye meets all these requirements, he is allowed to declare his candidacy for president. After he has raised or spent more than $5,000 for his campaign, he must register with the Federal Election Commission.

In May 2018, Kanye talked about Bitcoin during an interview with American radio presenter "Charlamagne tha God". 

He said:

"When you're acting in love, you're like a drop of water and you have the ocean as your army. When you act in fear, it's just you and your money.

"Now you can take your money and put it in Bitcoin, put it in credit form, put it in cash... and then stand up to the ocean and who's gonna win? 

"We definitely are dealing with racism but I want to push future concepts, you know.

"Now I'm doing I'm giving you two streams of consciousness in one. I want to talk about my wife. I also want to talk about Harriet Tubman on the twenty dollar bill... That's the moment I wanted to use Bitcoin."