BTC Price Prediction: Today’s Bitcoin Price, 17th Nov 2022

Web Desk

17th Nov, 2022. 01:00 am
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The FTX bankruptcy may be to blame for Bitcoin’s (BTC), the most valuable crypto token, recent bad performance. The FTX bankruptcy has hurt the crypto market and contributed to Bitcoin’s losses, which have seen it lose roughly 20% of its value in seven days to trade at $16,789 level.

Earlier in the session, BTC fell to a low of $15,872 before rising to a high of $16,864. In addition to the negative cryptocurrency market, the US dollar’s recent gains against the euro and sterling on Monday helped the price drops of bitcoin.

Other popular cryptocurrencies that ended in the red included Litecoin, Dogecoin, Solana, and Ethereum (ETH) (LTC).

Today Bitcoin Price

DATE	BTC	USD
Today	01	16,609.29

Bitcoin Price Prediction

One bitcoin currently costs $16,333, and $42 BTC are traded every day. In the most recent day, Bitcoin increased by 0.66%. With a market value of $322 billion, bitcoin is now the most valued cryptocurrency. Up to a total of 21,000,000 BTC coins, there are currently 19,207,118 in use.

In order to retake the $18,000 level, Bitcoin has surged over the $16,000 support level. It is now consolidating within a constrained trading range, and any breakout will determine the direction of future price movement.

Bitcoin is consolidating in a wide trading range between $18,000 and $16,000, and the direction of the price will depend on a breakout. Bitcoin has stabilised at $18,100 after finishing a 38.2% Fibonacci retracement in the last four hours.

When the cost exceeds $18,100, a positive crossover occurs. The price of Bitcoin may be exposed at this level to the $19,350 61.8% Fibonacci level.

If it fails to surpass the 38.2% Fibonacci retracement line of $18.250, Bitcoin might drop below $15,965.

The 50-day moving average and RSI have not reached the buying zone, but the MACD, a leading technical indicator, has. BTC may drop more if the closing candles drop below $18,000; support lies between $16,000 and 15,850.