Bitcoin thus maintained crucial support at $16,000as investors begin to settle after the FTX crash and macro-economic triggers.
Some operators argue that it is time to “go long on BTC as the $16,500 level reappears”. After the weekly close on November 27, BTC had suffered a sudden drop due to the uncertainty of China about the measures against Covid-19.
What will happen to the price of Bitcoin?
“After this bounce we have already created a higher low in Bitcoin and targeting resistance again”explained Michaël van de Poppe, founder and CEO of the trading firm Eight, about a higher low for BTC.
For its part, Crypto Miura, maintains “Bitcoin can still bounce to $16,650 as there are quite a few pending settlements in that area. It is also holding up very well to the fall of the S&P 500 and the Nasdaq.”
Source: Ambito
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