Bitcoin traders' BTC price dip targets now include $30.9K bottom


17 Nov 2023 4:24 PM

Bitcoin analysis points the way to the low $30,000s for a BTC price support retest....

  • Bitcoin (BTC) reached $36,000 after the Nov. 16 Wall Street open, following a retracement from intraday highs of $36,600.
  • Market participants were hoping for a deeper BTC price correction and a retest of lower levels.
  • Support was seen building at $35,000, and Bitcoin's rising 21-day simple moving average (SMA) acted as support.
  • Traders identified $35,700 and $38,000 as the main downside and upside levels to watch.
  • There were warnings of a steeper correction that could bring the market closer to $30,000.
  • Altcoins, including Ether (ETH), XRP (XRP), and Solana (SOL), underperformed compared to Bitcoin, leading to potential upside for BTC price.
  • Bitcoin's crypto market cap dominance increased to one-week highs of 52.82%.

The sentiment in the article is mixed. Some market participants are hoping for a deeper BTC price correction, while others are more optimistic about potential upside.

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You May Ask

What was the highest BTC price reached during the analyzed period?What support level was observed in the BTC/USDT order book?Which altcoins underperformed compared to Bitcoin?What was Bitcoin's crypto market cap dominance at its highest point?

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