BTC Price Pauses above $15.6K


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Bitcoin Fluctuates in a Range as BTC Price Pauses Above $15.6K – November 10, 2022

BTC/USD is correcting upward after falling to a low of $15,632 as BTC price pauses above $15.6K. Since it is being rejected at $18,150, Bitcoin has a difficult task ahead of it. If buyers are unable to recapture the initial barrier at $17,605, the selling pressure will pick up again. Presently, the price of one Bitcoin is $17,179.27.

Bitcoin Price Statistics Data:•Bitcoin price now – $17,179.27•Bitcoin market cap – $329,452,913,996•Bitcoin circulating supply – 19,204,068.00 BTC•Bitcoin total supply –$360,555,229,760•Bitcoin Coinmarketcap ranking – # 1

Resistance Levels: $50,000, $55, 000, $60,000 Support Levels: $25,000, $20,000, $15,000

Bitcoin’s (BTC) price has started to fluctuate again above the $15,632 support level. As the BTC price swings between $15,632 and $18,150, the bearish trend has diminished. The decline has not stopped, and the price of the cryptocurrency can drop further. The downturn has persisted after the price drop that started on June 18 and saw Bitcoin hit a low of $17,605.

The largest cryptocurrency may take another downward turn and hit a low of $15,500. Bulls will buy dips on the upside if the BTC price retraces and maintains above the $15,500 support. If the $15,500 support is broken, the downward trend will resume. The price signals are still pointing to a bearish trend. In conclusion, Bitcoin will keep declining since it is currently at level 32 in period 14 of the Relative Strength Index.

Despite Market Unrest, Bitcoin and Cryptocurrency Are Here to Stay: Community -Pauses Above $15.6K

Members of the community have voiced their unwavering belief that Bitcoin (BTC) and cryptocurrency are here to stay even though the crypto markets are now in a decline. Even though the FTX and Alameda Research scandal exposed problems with the crypto market, a member of the community urged others not to become anxious. The catastrophe, according to the Twitter user, was only a black swan event that only a select few people, including Binance CEO Changpeng Zhao and FTX CEO Sam Bankman-Fried (SBF), could have predicted.

Despite this, community member thinks that cryptocurrency will continue to exist. Crypto analyst Michal van de Poppe also offered his opinions on the direction of the cryptocurrency market. Van de Poppe predicts things will get better in the future. The expert emphasized that mistakes must be made to enhance the system, citing Mt. Gox, Terra, and FTX. Although it may seem as though the cryptocurrency industry is about to collapse completely, he stated, “Bitcoin and crypto are here to stay.”

BTC/USD – Daily Chart

The price of Bitcoin varies between $15,632 and $18,150 as BTC price pauses above $15.6K. When the current support and resistance are broken, the largest cryptocurrency will trend. Overall, Bitcoin will lose value and find support above the $15,500 price level.

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