Bitcoin
BTC$17 058.33

0.06%

Ethereum
ETH$1 266.25

0.01%

Tether
USDT$1.000063

0%

Binance Coin
BNB$289.87

0.04%

USD Coin
USDC$0.999979

0%

Binance USD
BUSD$1.000081

-0.05%

Bitcoin cools from 1-week highs with key long-term metric echoing $44K


30 Nov 2021

#Bitcoin

A "bullish engulfing" enters on multi-day charts as BTC price action manages to preserve some of Monday's gains. Bitcoin (BTC) returned to cement higher support on Nov. 30 after the latest BTC price comeback halted near $59,000. Data from Cointelegraph Markets Pro and TradingView showed BTC/USD reversing to local lows of $55,920 on Bitstamp overnight. The pair then recovered to circle $56,500 at the time of writing, with analysts keeping the faith on higher timeframe strength. Popular Twitter personality TechDev noted that Bitcoin's stochastic relative strength index (Stoch RSI) had "reset" to levels that echo BTC/USD at $44,000 — just before the run, which culminated in all-time highs.

"Bullish engulfing printed on stoch RSI cross with RSI reset to 44K levels," he summarized alongside the 3-day chart. 

Bitcoin's late strength Monday coincided with a return to form for macro markets and news that Twitter CEO Jack Dorsey had quit the company to focus entirely on Bitcoin activities.

While $60,000 remained out of reach of bulls, signs of a marked shift in sentiment were everywhere. 

"Bitcoin high timeframe structure is bullish. Cycle awareness is key," TechDev added in a separate post.

The Crypto Fear & Greed Index, days ago in "extreme fear" territory, looked set to enter its "neutral" zone with a score of 40/100 Tuesday.

Ethereum avoids breakout against BTC

For Ether (ETH) against Bitcoin, the picture was mixed. As altcoins saw broadly flat performance over the past 24 hours, trader Crypto Ed highlighted a rising wedge pattern on the 4-hour timeframes for ETH/BTC. The weekly chart produced similar characteristics.

Rising wedge structures are often seen as a potential bear flag due to their tendency to break to the downside.  ETH/USD traded at $4,400 at the time of writing, nonetheless up 7.3% over the past week.

 


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Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 84.4% 17 $17 058.33 0.06% 0.44% $327 969 673 009 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 80.4% 28 $1 266.25 0.01% -0.56% $154 956 271 042 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 93.6% 1 $1.000063 0% 0.04% $65 689 347 584 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 78.4% 44 $289.87 0.04% -4.43% $46 370 691 955 BNB 7 days price change
5 USD Coin (USDC) USDC USD Coin predictions 94% 1 $0.999979 0% -0.02% $43 034 372 975 USDC 7 days price change
6 Binance USD (BUSD) BUSD Binance USD predictions 96% 1 $1.000081 -0.05% -0.07% $22 101 869 687 BUSD 7 days price change
7 XRP (XRP) XRP XRP predictions 85.2% 29 $0.386677 -0.35% -4.46% $19 434 565 003 XRP 7 days price change
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11 Polygon (MATIC) MATIC Polygon predictions 71.6% 52 $0.913880 -0.11% 4.95% $7 982 115 948 MATIC 7 days price change
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15 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 84.4% 30 $0.053431 0.36% -1.20% $5 432 662 792 WTRX 7 days price change

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