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Bitcoin Could Close November Above $17,500 If It Breaks This Level

Posted on 30.11.2022

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As the cryptocurrency industry finally starting to change to a brighter shade of green, Bitcoin (BTC) is leading the charge, and the experts see a bullish end of the month on the cards for the flagship digital asset if it continues to show strength and break above a crucial level for continuation.

Specifically, Bitcoin could look to a monthly close above $17,500, provided it manages to break the crucial level at $17,000, according to the Tweeter published under the pseudonym crypto trading specialist known as CredibleCrypto November 30.

Bitcoin price action analysis and prediction. Source: CredibleCrypto

Optimism is building for Bitcoin

Additionally, bullish predictions come from another reputable crypto analyst, Altcoin Sherpa, who also thinks that $17,500 is a potential target for Bitcoin after testing the level at $16,500, as the chart also shows published November 30.

On top of that, renowned crypto trading expert Michaël van de Poppe believes that Bitcoin has a good chance of continuing towards $18,300 if it holds “the previous level of resistance for support (about $16.6,000).

Bitcoin price action analysis and prediction. Source: Michael van de Poppe

These positive movements and estimates play on previous indications of big moves on the horizon for Bitcoin, as observed by several technical analysis (TA) indicators shared by prominent crypto analysts like Mustache, Trader Tardigrade, Mags and Matthew Hyland.

bitcoin price analysis

As it stands, Bitcoin is changing hands at a price of $16,884, showing an increase of 2.32% on the day, as well as 1.79% over the previous seven days, minimizing the loss of 18, 59% on its monthly chart.

7-day Bitcoin price chart. Source: finbold

The flagship of decentralized finance (Challenge) the asset’s market cap at press time was $324.52 billion, maintaining its position as the largest cryptocurrency by this indicator, according to CoinMarketCap data retrieved on November 30.

Disclaimer: The content of this site should not be considered investment advice. The investment is speculative. When you invest, your capital is at risk.





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