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.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
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