BTCNEXT
Published in

BTCNEXT

Is Bitcoin heading for $20k or $100k? The decision time is near!

After a sharp decline in the crypto market, traders have divided into two camps — short and long. But where will Bitcoin end the year 2021? Find out in the BTCNEXT market analysis!

24–30 November, 1–7 December main events

  • The fall of Bitcoin. On Saturday December 4th, BTC quotes dropped to $42,000. The decline was accompanied by a large-scale liquidation in the futures market — $1.3 billion in long positions.
  • Miners are starting to leave Kazakhstan. Mining company BitFuFu turned off devices located in Kazakhstan due to problems with the power supply in the country and began to relocate their equipment in the United States. Other representatives of the industry decided to take this step as well.
  • Bruno hard fork. On December 1st, the Bruno hard fork was activated on Binance Smart Chain at block 13,082,000. It involves the deployment of a BEP-95 proposal with a BNB token burn mechanism, similar to the Ethereum blockchain.

Price analysis

After falling to $42,000, Bitcoin recovered to the $50,000 area. Despite the rebound, the bulls failed to close the weekly candle above an important psychological and technical level. Most likely, the price growth will continue, but with a pullback to the $45,000-$47,000 zone. If the buyers fail to maintain this level, the price will drop to $40,000-$42,000. A fall below this level means the beginning of a deep correction.

The Fear and Greed Index dropped to the Extreme Fear zone and is now at 25. At some point, the indicator dropped to 15. Open Interest almost halved, from $31 to $16 billion. All positions with high leverage were washed out of the market.

At the moment, the resistance is at $54,000 and $58,000. Even if the buyers dominate, it will be difficult to overcome these levels. A rollback from the $53,000-$54,000 zone is possible with further growth. The maximum growth targets are $95,000 and $135,000, depending on the market situation. If Bitcoin moves sideways, it will be a good reason for the growth of altcoins.

That’s all! If you want to continue receiving price analyses — stay tuned for more BTCNEXT updates!

To learn more about BTCNEXT, visit our official website.

Or find us on Twitter, Telegram, Facebook, Medium & LinkedIn.

--

--

--

BTCNEXT — the future of crypto exchange is here. We offer high level security, adjusted trading fee, margin trading. Exchange to change your life for better!

Recommended from Medium

DEUS’s revolutionary risk management strategy

Recent Global Tech News in case you missed it:

EasyFi Network Update Summary || Partnerships and Announcements || March

So, Bitcoin is not dead? Is *now* the best time to invest?

How Much Crypto Can You Earn From Staking With an AVADO Device?

Deep Dive: How Will IBC Create Value for the Cosmos Hub?

Gold-backed Jinbi Token Launch Reaches $10Million ICO Milestone

🔥🔥🔥 𝐄𝐫𝐧𝐬𝐭 & 𝐘𝐨𝐮𝐧𝐠 𝐥𝐚𝐮𝐧𝐜𝐡𝐞𝐬 𝐭𝐡𝐞 𝐟𝐢𝐫𝐬𝐭 𝐛𝐥𝐨𝐜𝐤𝐜𝐡𝐚𝐢𝐧…

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
BTCNEXT

BTCNEXT

More from Medium

Star Atlas: Possible IRL Future Value of POLIS using…Economics and Accounting 😃

(JaiChai) Breaking: “FREE Blockchain Domain Minting”

What is Fee Delegation

Hans want to use a web3-application without fee delegation

The New NFT ETF: Here’s What It’s All About