Daily Bitcoin Price Analysis: Buyers are Confident in the Bitcoin Price Growth

Daily Bitcoin price analysis by Albert Libenzon on Cointelegraph. November 30, 2015.
Daily Bitcoin price analysis by Albert Libenzon on Cointelegraph. November 30, 2015.

By the end of the last week the BTC/USD pair has shown a steady price growth. On November 26th, 2015, the bearish trend retreated under the pressure from Bitcoin buyers, and the BTC/USD pair is currently trading at the level of $376.

Given the statistics for November, the US dollar price tends to strengthen, therefore, it has the potential to roll the Bitcoin price back to $350. After that a new impetus is expected to push Bitcoin to around $380-$400.

To date, the support level for Bitcoin price is at around $340, while the resistance level is $400.

Graph