3 reasons why traders expect Bitcoin to retake $60K before November ends
Bitcoin price flashed a few bullish signals on Nov. 29, leading analysts to share their opinions on why BTC should close November above $60,000. The cryptocurrency market saw a boost in sentiment after the price of Bitcoin (BTC) surged above $58,000 in a long-awaited move that rejuvenated traders who have been anxiously waiting for a resumption of the uptrend.BTC/USDT 4-hour chart. Source: TradingViewHere’s a look at what analysts and traders are saying about Nov. 29’s price action and whether or not Bitcoin is likely to reclaim the $60,000 level.A $60,000 retest is “on the....
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A few Bitcoin traders expect now expect a deeper correction but data suggests that a relief rally toward $18,000 should not be ruled out. The price of Bitcoin (BTC) has been consolidating above $17,000 on Nov. 28 following a major correction from $19,400. In the near term, traders anticipate the dominant cryptocurrency to see another steep pullback.There are three main reasons why traders expect a deeper drop to occur in the near future, namely, historical cycles, the Fibonacci Sequence, and the record-high open interest of the futures market. BTC/USDT 4-hour chart (Binance). Source:....
Bitcoin has seen muted price action over the past few days after plunging from the $10,900 weekly highs as a result of negative new regarding BitMEX. Gold may soon be primed to retake a crucial support level on a medium-term scale, which may help to boost BTC after the aforementioned correction. Related Reading: Ethereum Transaction […]
Our expectations materialized on November 26th and the price of BTC to USD went up, overcame the resistance level of $345 and is now at the level $353.6. Considering the holidays in the US, the bulls took the initiative in their hands. Today, November 27th the way to around $370 is open for the Bitcoin price. But we shouldn’t forget about the straightening positions of the US dollar. Positive statistics from the US in recent days indicates that the dollar will continue to strengthen. Therefore, traders should be cautious as ever – as the scenario, when the Bitcoin price reaching $370 will....
The price of Bitcoin is consolidating around $19,000 as traders brace for a possible pullback. The price of Bitcoin (BTC) was rejected by the $19,500 resistance level yet again on Dec. 4, with traders becoming increasingly uncertain about what's next for BTC/USD. Bitcoin rally keeps stalling at $19,500Some foresee the dominant cryptocurrency undergoing a consolidation phase or another minor correction in the near term, particularly as the U.S. dollar is showing signs of a possible recovery.Others, however, expect the crucial $18,500 support level to hold, which would likely set up BTC to....
Bitcoin price hit a new 2020 high at $16,765, and traders expect a much larger rally to occur in the near term. The price of Bitcoin (BTC) hit a new yearly high at $16,717 on Binance. Following the breakout, traders expect a larger rally to occur in the near term.There are several reasons why analysts expect a prolonged uptrend. First, Bitcoin cleanly broke out of $16,000, taking out the $16,473 peak achieved on Nov. 13. Second, there is a “sell-side crisis” brewing as more BTC gets accumulated than mined. Third, BTC rallied despite indicators showing overbought signals.BTC/USD 1-hour....