Bitcoin Price Analysis on November 18: Indicators Tell a Fall

After a small drop on Friday to the level of $8,400, the bitcoin price began to consolidate in this area. Volatility is extremely low, and yesterday was about $200.

Bitcoin Price and Fibonacci Level Analysis

The price of bitcoin has come to the level of 0.38 Fibonacci and is fixed on it. At the same time, buyers show absolutely no signs of strength. As a result, we see that the chart and indicators indicate a further decline.

The moving middle Bollinger band reversed and now points down. Besides, the chart has long been under this line and fixed under it. Also, the Friday candle must exceed the border of the strip, which is also often a harbinger of a fall.

Cryptocurrency Market Capitalization and Trading Volume

The total market capitalization has not changed and amounts to $234 billion. But the trading volume grew by more than 10%, reaching $64 billion. Bitcoin dominance is at the same level - 65.9%.

Few coins showed quite strong growth per day. The leader among them was DxChain, whose price increased immediately by 20%. Since the beginning of November, this token has shown 4-fold growth, which allowed it to gain a foothold in the Top-100 best cryptocurrencies.

The leader in the fall was the anonymous coin Bytecoin, which lost 12% in price. At the same time, the coin trading volume is at an incredibly low level - $ 13,000.