Bitcoin prediction today: BTC bulls maintain control, coin price up 8.5% from corrective low
Bitcoin prediction today: BTC bulls maintain control, coin price up 8.5% from corrective low
The decision of the U.S. Securities and Exchange Commission (SEC) to postpone consideration of the applications of investment companies Grayscale and Hashdex to convert futures ETFs into spot Bitcoin ETFs, the deadline for which was tomorrow, November 17, did not prevent the bulls from buying bitcoin with renewed vigor.
As a result, yesterday the price of the coin broke through the resistance around the $36,200 and $36,745 levels and rose to the $37,970 level, representing an 8.5% increase from the corrective low of 35000. However, the bulls have not been able to break through the current highs, which could lead to a larger correction.
The next support is at the $37,200 level, a breach of which will lead to a decline towards $37,000-36,800. Although Bitcoin's growth may be exaggerated, there is still a chance to break the resistance and go up towards $39,000.
Source: Bitcoin (BTC) price prediction.
