Home » Bitcoin Bitcoin avoids recent lows as BTC price eyes $60K into the weekly close Bitcoin Reading 2 min Views 2 Things are looking up for Bitcoin bulls after the weekend delivers some much-welcomed relief after multi-week lows. Bitcoin (BTC) hovered near $59,000 as Nov. 21 came to a close after avoiding a retest of its recent lows. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC challenges $60,000 Data from Cointelegraph Markets Pro and TradingView showed BTC/USD almost hitting $60,000 before consolidating in a new higher range after sudden gains Saturday evening. The pair had hit lows of $55,650 during the week, these marking its lowest point in over a month, but further retests failed to materialize as sentiment improved. Adopting a calmer perspective into the weekly close, analysts thus looked to the long term to understand the overall health of the market. “Since breaking its black 200-day EMA, BTC rallied to new All Time Highs. Still over +50% above the 200 EMA, despite the recent retrace from ATHs,” Rekt Capital summarized on the day. Gave local top and bottom on $ETH How I plan to trade it. Looking for LH from here to 4570. *IF* 4570 is flipped then happy to buy back higher Playing for LH and a 2nd leg down to 36xx Same with $BTC looking for 59-61. If reclaim = buy back otherwise looking for LH If = then https://t.co/judmSGFoIu pic.twitter.com/OhyBcpH7uN — Pentoshi Won’t Dm You. hates Dm’s. DM's are scams (@Pentosh1) November 19, 2021 “Overall, super cycle and lengthening cycle for Bitcoin is still the case,” Cointelegraph contributor Michaël van de Poppe added. Ethereum, Avalanche lead a slow altcoin market On the topic of altcoins, Ether (ETH) constituted one of the most solid performers out of the top-10 cryptocurrencies by market cap Sunday, amid broadly flat action. ETH/USD traded up 2.3% at the time of writing, while outlier Avalance (AVAX) delivered 12% returns over 24 hours and entering the top-10 for the first time to push out Dogecoin (DOGE). ETH/USD 1-hour candle chart (Bitstamp). Source: TradingView Despite Saturday’s abrupt upturn, BTC/USD was still around 1.8% higher.