Bitcoin Price Analysis on November 27: Volatility Decrease and Transition to Flat

Bitcoin Price Consolidation and Volatility Decrease

Yesterday, the Bitcoin chart moved into the consolidation phase at $7,200, not showing strong movements. As a result, daily volatility declined from $900 to $300. Sellers and buyers did not force events and took a wait and see attitude.

A few days later, it became clear that the main resistance level was located in the zone of $7,300 - $7,200. It was against him that the price rested and stopped its growth. Below is a great support level of $7,000, breaking through which the price can go up to $6,000.

On the 4-hour timeframe, the chart fixed above the average Bollinger band but is constantly testing it for breaking down. Along with this, the stochastic indicates an apparent reversal and is also directed down. Based on this, we assume that the next strong movement will be exactly down.

Market Capitalization and Altcoin Performance

Total market capitalization has not changed and amounts to $196 billion. But the trading volume in just one day fell by 30%, stopping at around $67 billion. The dominance of Bitcoin for several days remains unchanged at 66.2%.

Thanks to the calmness of bitcoin, most altcoins have shown positive results. Over the last 24 hours, LINA has become the undisputed leader in growth, having grown by 84% and torn off from second place by 50%. Thanks to this, the coin entered the Top-100 cryptocurrencies and increased its capitalization by $20 million.

The leaders of the fall showed small losses. So Digitex Futures, which took first place among them, fell by only 7.5%.