The price of BTC recently traded by $1,000 off weekly lows after Wall Street opened on the 22nd of November as a BTC price relief bounce held pretty firm. According to data that was recovered from Trading View and Cointelegraph Markets Pro, it was understood that the crypto markets would be recovering from a snap that took place prior to the day of the Wall Street Open.
While the dust continued to settle on news that Binance, the largest global exchange, would be settling with the Department of Justice in the country for $4.3 billion, the cryptocurrency traders did eye the latest important price levels. Daan Crypto Trades have shown the exchange respecting a trading range in place for a couple of weeks despite the price dipping to $35,600 after the event taking place by Binance.
BTC Price Has Been On A Steady Rise
It has been mentioned that the corridor between the price range of $35,000 and $38,000 was definitely of equal interest to the optimistic market participants who have been waiting for the next stage in the bull run of Bitcoin. These definitely included popular analyst and trader Credible Crypto, who went on to predict some rangebound activity before an impulse higher. He went on to explain that with others pointing out, the spot premium was back. With that being said, the upside had been capped at around 37k and the downside capped at around 35k.
Yet another trader, Jelle, who is quite well known for his bullish and long-term outlook on BTC, also cautioned that the buyer interest had to solidify. However, Jelle then went on to spy a breakout from a so-called cup and handle pattern on the higher timeframes- with a BTC price target of $48,000 to match. In yet another coverage of order book charges, Material Indicators, the monitoring resource, has suggested that whale selling was still continuing fully.
