Bitcoin (BTC) recovered higher support on November 30 after the recent recovery of the BTC price stopped at around $ 59,000.

1 hour candlestick chart BTC / USD (bit stamp). Source: TradingView
RSI ser “bullish breakout”
Data from Cointelegraph Markets Pro and TradingView showed that the price of BTC / USD returned to a local low of $ 55,920 overnight on Bitstamp.

The pair has since returned to $ 56,500 at the time of writing, and analysts are still confident of the strength of the higher time frames.

The popular Twitter personality TechDev noted that Bitcoin’s Stochastic Relative Strength Index (Stoch RSI) has “fallen” to BTC / USD indecision levels of $ 44,000 – ahead of a race that led to record highs.

He summed up with the 3-day chart: “Bullish engulfing is printed at the crossover of Stoch RSI with RSI falling to 44,000 levels”.

Bitcoin’s rally late Monday coincided with an upswing in the macro markets and news that Twitter boss Jack Dorsey has left the company to focus entirely on Bitcoin.

While $ 60,000 remained out of the bull’s reach, there were signs of a noticeable shift in sentiment around.

“Bitcoin’s holiday framework structure is bullish. Cycle awareness is key,” TechDev added in a separate post.

The Crypto Fear & Greed Index, which a few days ago was in “extreme fear” territory, appears on Tuesday to have entered its “neutral” area with a score of 40/100.

The Fear and Greed Index of Cryptography. Source: Alternative.me
Ether avoids hacking against Bitcoin
When it comes to ETH (ETH) versus Bitcoin, the picture is mixed.

About the topic: Where will Bitcoin expire in November 2021? 5 things to see in bitcoin this week

Since altcoins have shown generally flat performance over the last 24 hours, Crypto-trader Ed highlighted a rising wedge pattern in the 4-hour time frame of ETH / BTC. The weekly chart showed similar characteristics.

Rising wedge structures are often seen as a potentially bearish flag due to their tendency to break.

At the time of writing, ETH / USD is trading at $ 4400, but an increase of 7.3% over the last week.

Source: CoinTelegraph

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