Weekly Cryptocurrency Market Outlook Nov. 29

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weekly-reportEvery week, BTCManager provides an assessment of the technical factors that will drive trends in bitcoin and altcoins, with an emphasis on the largest cryptocurrencies and the best opportunities for traders in the week ahead. In summary, bitcoin is deciding on where to go next, ether is heading south and looking to test critical support while Factoids, Lisk and Monero are making gains which could translate into a longer-term uptrend.

BTC-USD (BitStamp)

The weekly chart below shows that buyers tried to push as high at $750.00 last week but were weighed back down to $727.32 by the week’s close. What is significant is that last week’s price action formed a Gravestone Doji candlestick pattern, which should put traders on alert that the preceding upward trend may be coming to an end.

Also, notice that the high posted on

Read more ... source: TheBitcoinNews

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