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Bitcoin (BTC) Price Analysis for November 28.
The cryptocurrency market is mainly trading sideways today.
BTC/USD.
Unlike other coins, the rate of Bitcoin (BTC) has risen by 0.51%.
On the hourly chart, one should pay attention to the resistance level of $37,272. If its breakout happens, the price blast may lead to the test of the $37,500 zone soon.
On the daily time frame, the price of BTC needs more time to accumulate energy for a further move. The falling volume confirms such a statement.
In this regard, consolidation in the narrow range of $37,000-$37,500 is the more likely scenario until the end of the week.
On the weekly time frame, a further
midterm rise is possible only if the rate gets back to the $38,000 zone and fixes above it. If that happens, there is a
possibility to see a test of the vital zone of $40,000.
Bitcoin is trading at $37,248 at press time.
#ContentStar# #BountyCreator# #GateioBountyCreator# #NewsMessenger# #GateLive# #contentstar# #MyFancyCreator# #HotTopicDiscussion# $CSIX climbs 13% following Chappyz Integration
$CSIX, the native token of Carbon, a fast, private & secure web browser, is up by 13% in the past 24hours, & now trades around $0.08724, with inflow of $491.21k, as per Gate.io chart.
This comes as CarbonBrowser recently announced it is working with Chappyz, the AI powered community engagement protocal, after onboarding them on to its rapidly growing Web3 browser with over 7M users. Chappyz is now on Carbon's dAPP Store, while $CHAPZ is listed on Carbon's Wallet, & on LDX.FI Swap. Bitcoin Surpasses $37,700 Following Fed's Waller's Dovish Comments
Recent data suggesting a slowing economy and a continued moderation in inflation means the US Federal Reserve's policy is in the right place, Federal Reserve Governor Chris Waller said at an event in Washington. , DC.
"Something seems to be giving way, and that's the pace of the economy," Waller said, noting that October data and current forecasts for the rest of the fourth quarter indicate an easing of activity. Inflation data, he stated, are also moving in the right direction.
Responding to questions after his prepared remarks, Waller also said that if inflation were to continue to decline, there is a good case for cutting rates within a few months.
Waller is ranked as the third most hawkish member of the Federal Open Market Committee (FOMC) by InTouch Capital Markets, so any dovish stance on his part is of notable importance.
Already higher in the session, the price of Bitcoin [BTC] rose more than another 1% following Waller's comments, even as his colleague Michelle Bowman, speaking at another event, said she believes rates will have to rise to generate inflation . to the heel. At the time of this publication, Bitcoin was changing hands at $37,700.
Traditional markets are also taking note: The 10-year Treasury yield fell four basis points to 4.35%, the dollar index fell 0.4% and gold rose 1.3% to $2,038 an ounce.
#ContentStar# #BountyCreator# #GateioBountyCreator# #NewsMessenger# #GateLive# #contentstar# #MyFancyCreator# #HotTopicDiscussion# In the past few days, there has been news that individual institutions represented by Da Mo have been making a fuss about the topic of Bitcoin spot ETF, and the center wants to express nothing more than two points, a Bitcoin spot ETF may not pass as smoothly as most people expect, and the other means that since the spot ETF passes, it may usher in a wave of downward pressure on prices caused by a wave of sell-offs!
For the above two points, the research and judgment of these professional investment institutions do not express more opinions, maybe in the short term as they say, anyway, so what?
Here I just want to say one thing, that is, after the bitcoin futures ETF, if the bitcoin spot ETF is successfully approved by the SEC, what does it mean? This means that BTC as an asset class is officially recognized by the largest financial regulator and market on the planet! We have been fighting with BTC for more than 10 years, what could be more meaningful with this! Since then, no one has questioned that BTC is another Dutch tulip, a new type of Ponzi scheme! This is the return and result of countless people's perseverance and struggle for decades. For this event itself that is recognized as an asset class by reality, the significance of itself has far exceeded the short-term ups and downs of the market, the rise or fall is nothing more than the adjustment and repair of the short-term technical side of the market, and has no decisive impact on the longer-term trend, but these institutions have not explained, the most difficult to figure out here is the research report of Da Mo, I remember that I first saw a research report on BTC on the official website of Morgan Stanley was several years ago, when Da Mo Research Report had recommended BTC to potential investors As a new type of asset investment strategy, 5% of the investment share can be appropriately allocated. Now, at the time when the Bitcoin spot ETF is about to come out, the information frequently conveyed to the market by Da Mo and individual institutions is contrary to everyone's expectations, what kind of story is there?
I remember a dynamic conversation early this year that in the past 10 years of savage growth in BTC and the crypto world, the most lost may be these traditional Olds Monney, conservative and steady old money, in the face of the torrent of the new market and the huge wealth effect of the new market, there is the loss of missed opportunities and the urgency of the future growth opportunities of the new market, this is a contradictory and complex mentality, that is, the contempt for the new market, and the hunger for the growth of huge wealth, the mouth says derogatory words, in the heart I wish to be able to get more low-price chips! It's like I suddenly thought of a certain Internet celebrity financial expert who said that he shouldn't give BTC away for free!
Of course, sometimes, the short-term game and volatility of the market is enough to kill, especially those players who have added high leverage, I think for these friends, the play is high risk and high return, what time, safe are floating clouds, 10,000 years is too long, just seize the day, overnight rich is the king. So, what these institutions want to express is to attract attention, the game of the market will definitely not be as superficial as they described, and they will not tell us the deeper things! Here we need to know how deep our understanding of the market and BTC is to decide whether you make a profit or a loss!#ContentStar# 
