BREAKING: Why Bitcoin Price Just Lost $16K in a ‘Typical’ Weekend Drop

16 Nov 2020, 10:19 · Views 507

BREAKING: Why Bitcoin Price Just Lost $16K in a ‘Typical’ Weekend Drop

Despite the weekend, the price of Bitcoin has seen volatility within the past 12 hours as stacked sell orders at $16,500 likely caused the drop.

The price of Bitcoin has seen volatility within the past 12 hours. The top cryptocurrency fell from $16,400 to $15,750 within hours, rejecting sharply after surpassing the $16,000 resistance earlier this week.

As of Nov 14, the 20-day moving average of Bitcoin on the daily chart is at $14,600. In the near term, if a pullback occurs, the $14.6K level remains a favourable area for buyers.

The outlook of Bitcoin among traders and analysts remains mixed.

Some traders say a deep pullback to the $12,000 to $13,000 range is inevitable, if not healthy, during this bull run.

Original Article (via Investing.com):

https://cointelegraph.com/news...

Dieditkan 16 Nov 2020, 10:41

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