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Bitcoin consolidates but is ready to go down further

Bitcoin consolidates but is ready to go down further

Market picture

Bitcoin is trading at around $16.8K with no significant changes overnight and in the consolidation area of the last five days. The panic sell-off appears to be over, with key stablecoins regaining their pegs. The market capitalisation stands at $847 billion (+0.2% overnight).

Bitcoin is consolidating near the 23.6% retracement of the 5-10 November collapse. Failure to go higher indicates heavy selling pressure, suggesting a higher... Read More

Posted: Nov 16 2022, 08:52
Author Name: forexlive
Views: 110731

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