On November 22, Bitcoin trading ended in decline.

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On Monday, November 22, Bitcoin trading ended in decline. Its losses amounted to 4.05%. In the American session, the price rose to the level of $ 59444, from which it fell to $ 55610 (-3834). The sharp rise in quotations was caused by the news that US President Joe Biden nominated the current head of the Federal Reserve System (FRS) Jerome Powell for a second term. The second candidate, Leil Brainard, has been nominated for the position of his deputy.

The future of the market under Powell looks good. He, L. Brainard and other colleagues did not adhere to draconian views on cryptocurrencies. Powell is not going to ban cryptocurrency, although he emphasizes the need for regulation.

Sellers won the final bout as the dollar index is negatively correlated when the markets are experiencing a flight of risky assets. Over the past 5 trading days, the situation has not improved for buyers. They are still defending above the $ 55,500 level. We need positive news to increase their activity.

The zone of resistance has expanded from $ 60950-61400 to $ 59620-61400. The value of the dollar index futures is trading near its annual high. The dollar is appreciating against the background of higher yields on US bonds. UST10 growth is being held back by the recovery in gold prices and stock indices. So just wait for a new portion of news so that market participants can determine the direction of the price.

Posted Using LeoFinance Beta



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