{"id":14225,"date":"2023-11-26T18:12:36","date_gmt":"2023-11-26T18:12:36","guid":{"rendered":"https:\/\/cryptoheretostay.com\/?p=14225"},"modified":"2023-11-26T18:12:37","modified_gmt":"2023-11-26T18:12:37","slug":"bitcoin-bulls-hold-firm-into-weekly-close-btc-price-eyes-39-3k","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=14225","title":{"rendered":"Bitcoin bulls hold firm into weekly close: BTC price eyes $39.3K"},"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) held near $38,000 into the Nov. 26 weekly close as traders boosted their BTC price optimism.<\/p>\n<p><em>BTC\/USD 1-hour chart. Source: TradingView<\/em><\/p>\n<h2>Bitcoin buyers give bears no room for maneuver<\/h2>\n<p>Data from Cointelegraph Markets Pro and TradingView showed a typically flat weekend for Bitcoin, with classic volatility yet to hit as the weekly close approached.<\/p>\n<p lang=\"en\" dir=\"ltr\">#Bitcoin Straightforward and slow weekend.<\/p>\n<p>Usually volume\/volatility picks up a bit later today. https:\/\/t.co\/joyKaqG68f pic.twitter.com\/T9sXbJ2c6d<\/p>\n<p>\u2014 Daan Crypto Trades (@DaanCrypto) November 26, 2023<\/p>\n<p>After setting new 18-month highs in recent days, some argued that the largest cryptocurrency showed encouraging signs for upside continuation.<\/p>\n<p>Among them was popular trader and analyst Credible Crypto, who eyed buyers absorbing any sell volumes near the local highs.<\/p>\n<p>Along with open interest (OI) on derivatives markets staying low and spot demand remaining steady, the stage could be set for the next move higher.<\/p>\n<p>\u201cOverall I think that dips here may be even more shallow than originally anticipated due to the lack of OI to induce liq flushes and the clear spot demand we are seeing at these levels,\u201d part of a post on X (formerly Twitter) read. <\/p>\n<p>\u201cWe have some potential liquidations above 38k and some below 37.5k, but the amount of open positions here is relatively low \u2014 so not expecting huge volatility in either direction until our breakout unless spot flows shift dramatically.\u201d<em>Bitcoin exchange market data chart. Source: Credible Crypto\/X<\/em><\/p>\n<p>Credible Crypto concluded that even his previous forecast of a return to $36,900 \u2014 itself just a 2.1% drop from the current spot price \u2014 may not come to pass.<\/p>\n<h2>BTC price prints key Ichimoku setup<\/h2>\n<p>Equally buoyant on the immediate future was fellow market commentator Titan of Crypto. <\/p>\n<p><strong><em>Related:\u00a0\u2018Enjoy sub-$40K Bitcoin\u2019 \u2014 PlanB stresses $100K average BTC price from 2024<\/em><\/strong><\/p>\n<p>In an analysis that leveraged the Ichimoku Cloud indicator, Titan of Crypto spied a clean breakout of its key components in a rare event for the Bitcoin weekly chart.<\/p>\n<p>Ichimoku\u2019s lagging span, Chikou \u2014 as measured 26 weeks prior \u2014 was now both above price and at the top of the Kumo Cloud. Together with Tenkan-sen and Kijun-sen displaying a renewed uptrend, the picture looked highly promising for upside continuation, Titan of Crypto concluded.<\/p>\n<p>\u201cPrice action wise pay attention to the last 2 weekly candles. Wicks indicate bulls are pushing back,\u201d he summarized in part of accompanying X commentary on Nov. 25. <\/p>\n<p>\u201cThe momentum is up, $39.3k is next.\u201d<em>BTC\/USD 1-week chart with Ichimoku Cloud features highlighted. 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-bulls-hold-weekly-close-btc-price-39-3-k\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin (BTC) held near $38,000 into the Nov. 26 weekly close as traders boosted their BTC price optimism. BTC\/USD 1-hour chart. Source: TradingView Bitcoin buyers give bears no room for maneuver Data from Cointelegraph Markets Pro and TradingView showed a typically flat weekend for Bitcoin, with classic volatility yet to hit as the weekly close [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":14226,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[2],"tags":[],"class_list":["post-14225","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\/14225","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=14225"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/14225\/revisions"}],"predecessor-version":[{"id":14227,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/14225\/revisions\/14227"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/14226"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=14225"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=14225"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=14225"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}