Bitcoin’s November Red Candle Signals Bearish MACD Cross, Eyes $75,000 Test

Bitcoin closed the week and month at $90,385, below the $91,400 resistance, signaling bearish sentiment heading into the new week. Key support levels to watch are $87,000 and $84,000; failure to hold $84,000 could lead to a test of the $75,000 support level, with stronger support between $72,000 and $69,000.

The monthly close for November was a significant red bearish candle, wiping out gains from previous months. Critically, this close confirmed a bearish cross on the MACD oscillator on this high timeframe, which suggests prices may remain subdued for the next two to three months and indicates the four-year cycle top is likely in.

(Source：Bitcoin Magazine)