{"id":14105,"date":"2023-11-17T17:33:27","date_gmt":"2023-11-17T17:33:27","guid":{"rendered":"https:\/\/cryptoheretostay.com\/?p=14105"},"modified":"2023-11-17T17:33:28","modified_gmt":"2023-11-17T17:33:28","slug":"bitcoin-traders-btc-price-dip-targets-now-include-30-9k-bottom","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=14105","title":{"rendered":"Bitcoin traders&#8217; BTC price dip targets now include $30.9K bottom"},"content":{"rendered":"<script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script>\n<p>Bitcoin (BTC) circled $36,000 after the Nov. 16 Wall Street open as analysis hoped for a deeper BTC price comedown.<\/p>\n<p><em>BTC\/USD 1-day chart. Source: TradingView<\/em><\/p>\n<h2>Bitcoin traders map out likely bottoms<\/h2>\n<p>Data from Cointelegraph Markets Pro and TradingView followed a retracement from intraday highs of $36,600.<\/p>\n<p>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.<\/p>\n<p>\u201cWould be happy to see this latest rally complete the round trip back to $35k. Would be even happier to see a retest of $33k,\u201d monitoring resource Material Indicators wrote in part of the day\u2019s X commentary.<\/p>\n<p>A snapshot of BTC\/USDT order book liquidity showed support building at $35,000.<\/p>\n<p><em>BTC\/USDT order book data. Source: Material Indicators\/X<\/em><\/p>\n<p>Continuing, Material Indicators co-founder Keith Alan added that Bitcoin\u2019s rising 21-day simple moving average (SMA) had been functioning as support in recent days.<\/p>\n<p>\u201cBTC continues to fight for the range above $36.5k,\u201d he commented.<\/p>\n<p>\u201cLocal support is forming around the 21-Day MA which is currently around $35.7k. Which side do you think breaks first?\u201d<em>BTC\/USD 1-hour chart with 21-day MA. Source: TradingView<\/em><\/p>\n<p>Popular trader Daan Crypto Trades likewise flagged $35,700 and $38,000 as the main downside and upside levels to watch, respectively. <\/p>\n<p lang=\"en\" dir=\"ltr\">My view on #Bitcoin. Can&#8217;t make it easier than this range.<\/p>\n<p>Pretty clear which levels are most important here being the ~$35.7K low and ~$38K high.<\/p>\n<p>Anything in between will be choppy.<\/p>\n<p>Get up to a $30K Bonus on Bybit:<br \/>https:\/\/t.co\/rIxsG0GIWl pic.twitter.com\/B2jststQ7A<\/p>\n<p>\u2014 Daan Crypto Trades (@DaanCrypto) November 17, 2023<\/p>\n<p>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.<\/p>\n<p>\u201cAs expected $37k offers strong Resistance for Bitcoin price!\u201d he told X subscribers alongside his latest analysis. <\/p>\n<p>\u201cThe window for a larger correction to the bottom of the channel at $30.9k is still open as long as $37k continues to offer Resistance for the price.\u201d<em>BTC\/USD annotated chart. Source: Gaah\/X<\/em><\/p>\n<h2>Bitcoin dominance returns to 7-day high<\/h2>\n<p>Striking a more optimistic tone, popular trader and analyst Credible Crypto, known for his bullish market takes in the current environment, saw potential for BTC price upside to reenter next.<\/p>\n<p><strong><em>Related:\u00a0Bitcoin bull market FOMO absent as BTC price nears key $39K profit zone<\/em><\/strong><\/p>\n<p>This was due to a marked pullback among altcoins, which underperformed compared to Bitcoin on the day.<\/p>\n<p>Largest altcoin Ether (ETH) was down 3.8% in 24 hours at the time of writing, while XRP (XRP) was down 5% and Solana (SOL) nearly 11% lower.<\/p>\n<p>\u201cPulled the reigns in on alts, I have a feeling $BTC is ready to do it&#8217;s thing,\u201d Credible Crypto wrote in part of the day\u2019s X posts.<\/p>\n<p>Bitcoin\u2019s crypto market cap dominance increased to hit one-week highs of 52.82%.<\/p>\n<p><em>Bitcoin market cap dominance 1-day chart. Source: TradingView<\/em><\/p>\n<p class=\"post-content__disclaimer\">This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.\n<\/p>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/cointelegraph.com\/news\/bitcoin-traders-btc-price-dip-targets-30-9-k-bottom\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin (BTC) circled $36,000 after the Nov. 16 Wall Street open as analysis hoped for a deeper BTC price comedown. BTC\/USD 1-day chart. Source: TradingView 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 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":14106,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[2],"tags":[],"class_list":["post-14105","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/14105","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=14105"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/14105\/revisions"}],"predecessor-version":[{"id":14107,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/14105\/revisions\/14107"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/14106"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=14105"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=14105"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=14105"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}