XRP Price May Drop to $0.135, Crypto Trader Predicts – U.Today

Bitcoin (BTC) Price Prediction: Fluctuating Around $7,700. Preparing for an $8,000 Move?
Cover image via www.tradingview.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

On the last day of November, the cryptocurrency market is in a relatively neutral mood. The rates for the top 10 coins have not increased or decreased by more than 2%. Bitcoin (BTC) currently has the biggest gain, as its price has gone up by almost 2% since yesterday.

Below is the relevant data for BTC at press time:

  • Name: Bitcoin

  • Ticker: BTC

  • Market Cap: $139,186,224,885

  • Price: $7,700.32

  • Volume (24H): $18,498,079,462

  • Change (24H): 1.99%

BTC/USD: Pay Attention to the $8,000 Level

November was extremely bearish for the world’s largest digital asset, as BTC registered a six-month low. However, signs of recovery appeared after the November 22nd and 25th fall.

Looking at the 4H chart, the bulls are losing ground and the last price before the bears seize the initiative again. This might be at the $8,000 mark. The upcoming sellers’ dominance is confirmed by the fact that the relative strength index (RSI) is getting closer to the overbought area.

The bigger time frame shows the declining interest of buyers based on the trading volume index. BTC has not moved out of the descending channel, which suggests continuing pressure by the bears. 

Bitcoin Halvings Kick BTC Price Up, History Says, $100,000 May Be Expected This Time

To sum it up, if BTC cannot fix above the $8,000 mark, then the price will continue to drop to $7,500 and possibly below. 

At press time, BTC is trading at $7,692.


READ  Argentina Posts Highest LocalBitcoins Volume Ever Amidst Capital Controls on Foreign Currencies - BeInCrypto


Please enter your comment!
Please enter your name here