Bitcoin Price Jumps 3% After Binance Announcement, Urging for Bullish Intervention

By Coinan Porter Nov 22, 202371Views

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Bitcoin Price Bounce Holds Firm

After the Nov. 22 Wall Street open, Bitcoin (BTC) traded $1,000 off weekly lows as a BTC price relief bounce held firm.

Bitcoin Respects “Very Clear” Key Levels

Bitcoin traders eyed the latest important price levels. BTC/USD respected a trading range in place for two weeks despite dipping to $35,600 after the Binance event.

Popular trader and analyst Credible Crypto predicted some rangebound activity before an “impulse” higher and cited a range between $35,000 and $38,000.

BTC Price 4-Hour Chart Flashes

Fellow trader Jelle cautioned that buyer interest must solidify. On longer timeframes, Jelle spied a breakout from a so-called “cup and handle” pattern — with a $48,000 BTC price target.

Hot Take: What Monitoring Resources Suggest?

Monitoring resource Material Indicators suggested that whale selling was still ongoing. Despite this, liquidity overall moving higher was a bullish sign it added in X commentary.

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Coinan Porter

Coinan Porter stands as a notable crypto analyst, accomplished researcher, and adept editor, carving a significant niche in the realm of cryptocurrency. As a skilled crypto analyst and researcher, Coinan's insights delve deep into the intricacies of digital assets, resonating with a wide audience. His analytical prowess is complemented by his editorial finesse, allowing him to transform complex crypto information into digestible formats. Coinan's contributions serve as a valuable resource for both seasoned enthusiasts and newcomers, guiding them through the dynamic landscape of cryptocurrencies with well-researched perspectives. With meticulous attention to detail, he empowers informed decision-making in the ever-evolving crypto sphere.