Almost all of the top 10 cryptocurrencies are in the red zone today, according to CoinStats.
**BTC/USD**
The price of Bitcoin (BTC) has decreased by nearly 1% over the last 24 hours. On the hourly chart, the BTC rate remains far from both support and resistance levels. With neither buyers nor sellers dominating the market, the chances of sharp price movements by tomorrow are low.
Looking at the bigger time frame, sellers currently hold more power than buyers. If Bitcoin fails to bounce off the current levels, traders may witness a breakout to the downside, potentially leading to a further decline toward the $92,000–$93,000 zone. This scenario is plausible over the next few days.
From a midterm perspective, buyers are not yet ready to take the initiative. Consequently, a correction down to the next support level at $88,772 may occur by the end of the month.
At press time, Bitcoin is trading at $95,359.
https://u.today/bitcoin-btc-price-analysis-for-november-16-0
