Is Bitcoin’s Price Staying Strong Near Range Peak? 🧐
In November, #Bitcoin displayed resilience, closing at $37,700, marking its strongest month since April 2022.
Despite attempts by bears, BTC held key support, remaining above $35,000. Traders anticipate a #consolidation phase between $35,000 and $39,000, with resistance levels at $47,000 and the 2021 high of $69,000. The recent climb to $38,000, after the month-end, signified Bitcoin's first significant move.
Despite macroeconomic data releases in the U.S., Bitcoin showed minimal response. Analysts emphasize the importance of breaching the $40,000 mark due to #historical resistance/support lines.
Material Indicators highlighted the significance of this price zone, illustrating key levels on the monthly chart and signaling long and short positions using proprietary indicators.
