BITCOIN MARKET UPDATE 26.NOV.2024

Good morning, traders and investors! 

Welcome to your daily BTC/USD market update, brought to you by Algo-Fund.com. Today is November 26, 2024, and we're here to provide you with the latest insights, forecasts, and actionable strategies to make the most of this market.

Bitcoin is currently trading at $94,500, consolidating after testing recent highs. The Market Cipher indicator shows a bullish divergence forming on the 4-hour and 30-minute charts, suggesting potential for upward momentum. Buyers, take note!Immediate resistance is at $96,000 and $98,500, which aligns with our break-up point." "Support levels sit at $92,000 and $89,500, with whales showing strong activity near these zones.

Zooming out to the daily chart, we see Elliott Wave analysis confirming a completed Wave 4 retracement. Now, we’re gearing up for a potential Wave 5 breakout targeting $102,000. This move aligns with strong accumulation zones identified on-chain.Speaking of on-chain metrics, net exchange outflows and rising open interest suggest growing confidence among long-term holders. 

Funding rates remain slightly positive, signaling a bullish sentiment across the board.Our proprietary Market Maker Blueprint is also aligning with today’s forecast. The blue levels outline the weekly range, the green levels mark key buy zones and take-profit points, while the red levels highlight sell zones and resistance.

For short-term traders, consider longs near $94,000 with tight stops at $92,000, targeting $96,000 to $98,500.

For mid-term investors, the $102,000 level remains our key Wave 5 target.

As always, stay ahead of the curve with Algo-Fund.com. From advanced tools to real-time updates, we’ve got you covered in navigating these exciting markets. Join us tomorrow for another insightful update.