Price Predictions 11/21: Btc, Eth, Xrp, Bnb, Sol, Doge, Ada, Hype,...

Bitcoin has yet to find a bottom, but the data suggests buyers were very interested in the abrupt dip to $80,000. Several altcoins are also approaching deep discount levels.

Bitcoin has been facing intense selling pressure, opening the doors for a fall to the crucial support at $73,777.

Several major altcoins have slipped below their support levels, indicating that bears remain in firm control.

Bitcoin (BTC) attempted a recovery on Friday, but the bears continued to exert pressure, bringing the price as low as $80,000 at Binance. The sentiment remains weak as US stock markets deepened their correction this week amid concerns about excessive valuations in the artificial intelligence sector. Additionally, expectations of a December rate cut by the Federal Reserve have dropped to 33.1% from 98.1% on Oct. 21, according to the CME FedWatch Tool.

The question on everyone’s mind is how low could BTC go? Bitwise European head of research André Dragosch said in a post on X that BTC is likely to bottom out in the zone between BlackRock’s IBIT cost-basis of $84,000 and Strategy’s cost-basis near $73,000.

Select analysts view the current dip as a positive development. Veteran trader Peter Brandt said in a post on X that the correction was the “best thing” that could have happened to BTC. He said he remains long-term bullish on BTC, expecting the price to rally to $200,000 around the third quarter of 2029.

What are the crucial overhead resistance levels to watch out for in BTC and major altcoins? Let’s analyze the charts of the top 10 cryptocurrencies to find out.

BTC sliced through several short-term support levels and plunged to $80,600, signaling aggressive selling by the bears.

The next major support on the downside is at $73,777. Buyers are expected to defend the $73,777 level with all their might, as a break below it opens the gates for a collapse to $53,500.

Sharp corrections are followed by an equally sharp rally. The oversold levels on the relative strength index (RSI) indicate a potential relief rally in the near term. That could push the BTC/USDT pair to the 20-day exponential moving average (EMA) ($97,319), where the bears are expected to mount a strong defense.

Source: CoinTelegraph