empty
13.11.2023 10:07 AM
Technical Analysis of BTC/USD for November 13, 2023

Crypto Industry News:

Bitcoin price is rising. It increased by over 5% on a weekly basis. One classic on-chain indicator suggests that the cryptocurrency's peak this cycle could be at least $110,000.

It's about the so-called Terminal Price. This is a key metric that is calculated by dividing Coin Days Destroyed (CDD) by the existing supply. CDD measures the number of days BTC has been dormant each time a certain amount of coins moves on the chain, serving as an indicator of hodler intent and activity. Created by Philip Swift, Principal Analyst at Glassnode, Terminal Price helps you determine ATH for a given cycle.

During the bull market in 2017 and in April 2021, the bitcoin price hit the Terminal Price trend line. Swift suggests that selling "close to" the final price may be a wise strategy.

According to the model, during the current cycle ATH may amount to USD 110,000, and the bull market is expected to end at the end of 2025. At the same time, however, it is worth adding that due to the fact that the Terminal Price increases over time, USD 110,000 for 1 BTC may show careful respect.

Technical Market Outlook:

The BTC/USD pair has made a new swing high at the level of $38,027 as the bulls are in control of the market. The price is again coming off the extremely overbought conditions on the H4 time frame chart and now there is a clear Bearish Divergence between the price and the momentum on the H4 time-frame chart, so a pull-back is due soon. The intraday technical support is seen at $36,702, $36,400 and $36,782. The next target for bulls is seen at the level of $40,000, but first the last week high located at $37,889 must be violated. The momentum remains strong and positive, so after the pull-back for the last swing high is done, the up trend shall continue.

This image is no longer relevant

Weekly Pivot Points:

WR3 - $38,322

WR2 - $37,676

WR1 - $37,333

Weekly Pivot - $37,030

WS1 - $36,687

WS2 - $36,384

WS3 - $35,738

Trading Outlook:

The bulls broken above the gamechanging level located at $25,442, so now the mid-term outlook for BTC is bullish. The next target for bulls is seen at the level of $40,000. As long as the level of 19,572 is not clearly violated, there is a chance for a long-term up trend to continue.

Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

Bitcoin will test its Support.1 after successfully breaking through and closing below the Uptrendline intraday chart, Friday, July 4, 2024.

Bitcoin – Friday, July 4, 2025. With an inflow into the Bitcoin ETF around USD$ 50 billion, it shows strong interest from investors, thus strengthening the legitimacy of this cryptocurrency

Arief Makmur 07:58 2025-07-04 UTC+2

Ripple has the potential to correct and weaken down to the Support level of 2.1924, Friday, July 4, 2025.

Ripple – Friday, July 4, 2025 Friendly regulatory pressure and the case with the SEC that seems to be stopped and open interest in the derivatives market that has jumped

Arief Makmur 07:58 2025-07-04 UTC+2

Trading Recommendations for the Cryptocurrency Market on July 4

Bitcoin has encountered significant resistance around $110,000, and it is unlikely to break through this level easily in the near term. Ethereum is also facing difficulties moving above the $2,600

Miroslaw Bawulski 07:27 2025-07-04 UTC+2

Trading Recommendations for the Cryptocurrency Market on July 3

Bitcoin and Ether have resumed growth, reaching new weekly highs amid favorable macroeconomic conditions. Over the past 24 hours, Bitcoin has risen by 2.5%, trading above $109,000. Ethereum also advanced

Miroslaw Bawulski 08:47 2025-07-03 UTC+2

Trading Recommendations for the Cryptocurrency Market on July 2

Bitcoin continued its correction and during today's Asian trading session reached a new level of $105,000. Ethereum also dropped significantly but was quickly bought back, stabilizing around $2,425. Meanwhile

Miroslaw Bawulski 08:33 2025-07-02 UTC+2

Trading Recommendations for the Cryptocurrency Market on July 1

Bitcoin failed to hold the $108,000 level, slipping into a more acceptable zone around $107,000. Ethereum also showed weakness at the end of the month, retreating to $2,460 after failing

Miroslaw Bawulski 08:55 2025-07-01 UTC+2

Key events this week that may impact crypto market

Bitcoin has pulled back below the $108,000 level, while Ethereum briefly rose above $2,500 over the weekend before retreating again. Clearly, traders will be closely monitoring several upcoming macroeconomic data

Jakub Novak 14:53 2025-06-30 UTC+2

Trading Recommendations for the Cryptocurrency Market on June 30

Bitcoin and Ethereum continued to grow over the weekend, indicating steady demand even as the leading cryptocurrency approaches its historical highs. While everyone is anticipating that Bitcoin will soon break

Miroslaw Bawulski 09:30 2025-06-30 UTC+2

Trading tips for crypto market on June 27 (North American session)

Bitcoin made another attempt to return to the $108,000 level, but failed to hold it and corrected lower, falling below the $107,000 mark, a move that could lead

Miroslaw Bawulski 15:47 2025-06-27 UTC+2

Another Major Company Announces $1 Billion Raise to Buy Bitcoin

The cryptocurrency market is showing strong confidence. Given its correlation with the U.S. stock market—where historical highs are being updated—there is room to expect further growth in digital assets. However

Jakub Novak 10:50 2025-06-27 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.