Bitcoin falls to a 1-month low after a 6% dive drops BTC price to $56.6K

Bitcoin falls to a 1-month low after a 6% dive drops BTC price to $56.6K


Bitcoin (BTC) fell through key support levels on Nov. 18 in a fresh test of bulls’ resolve.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView“Strong market-wide selling” hits

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD abandoning the $58,400 support after multiple retests in previous days and at the time of writing, Bitcoin is trading at $57,800.

Trending: Dr. Oz expected to join race for Pennsylvania’s US Senate seat: report

Despite high volatility and challenging the $60,000 mark, within the past hour the price fell as low as $57,200 — its lowest since Oct. 15.

“Strong market-wide selling is going on,” trader and analyst Rekt Capital wrote in his latest Twitter update.

“Undoubtedly, seller exhaustion lies ahead. Watch for high sell-side volume bars in the short-term. These tend to signal bottoming out after constant selling and precede either a strong bounce or an

Continue reading

You Might Like

 

Join the conversation!

Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!

Thanks for sharing!
Send this to a friend