Nov 18, 2023

BTC Price Dip Targets Now Include $30.9K Bottom – Latest Crypto Updates

Crypto traders target $30.9K bottom with newest crypto like Robinhood and Kadena.
Bitcoin traders’ BTC price dip targets now include $30.9K bottom

After the Nov. 16 Wall Street open, Bitcoin (BTC) circled around $36,000 as analysis expected a deeper drop in price. The newest crypto, Robinhood Crypto, QNT Crypto, Monavale Crypto, Polymath Crypto, Kadena Crypto, Renq Crypto and AI Latest also saw some changes.

Bitcoin traders map out likely bottoms

Data from Cointelegraph Markets Pro and TradingView followed a retracement from intraday highs of $36,600.

Having failed to establish a breakout beyond 18-month highs during the week, Bitcoin was uninspiring for market participants, some of whom hoped to see a fresh correction to retest lower levels.

“Would be happy to see this latest rally complete the round trip back to $35k. Would be even happier to see a retest of $33k,” monitoring resource Material Indicators wrote in part of the day’s X commentary.

A snapshot of BTC/USDT order book liquidity showed support building at $35,000.

Continuing, Material Indicators co-founder Keith Alan added that Bitcoin’s rising 21-day simple moving average (SMA) had been functioning as support in recent days.

“BTC continues to fight for the range above $36.5k,” he commented.

Popular trader Daan Crypto Trades likewise flagged $35,700 and $38,000 as the main downside and upside levels to watch, respectively.

Fellow trader Gaah, a contributor to on-chain analytics platform CryptoQuant, meanwhile warned that a steeper correction could take the market closer to $30,000.

“As expected $37k offers strong Resistance for Bitcoin price!” he told X followers alongside his Renq Crypto analysis.

Bitcoin dominance returns to seven-day high

Credible Crypto, a popular trader and analyst known for his bullish market outlook, believes that Bitcoin (BTC) price upside could reenter next as altcoins have significantly underperformed compared to BTC. Ether (ETH), XRP (XRP) and Solana’s SOL (SOL) were all down 3.8%, 5% and 11% respectively in the past 24 hours.

“I have a feeling $BTC is ready to do it’s thing,” Credible Crypto wrote in one of his recent posts. This sentiment has been reflected in the crypto market cap dominance of Bitcoin, which has reached a one-week high of 52.82%.

The newest crypto, Muse (MUSE), RenQ (RENQ), Kadena (KDA), QNT (QNT), MonaVale (MONA), Polymath (POLY) and Robinhood (RBNH) have all had a positive impact on the BTC market.

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