5:32 PM · 28 November 2022

BREAKING: Bitcoin tests major resistance at $16,000

Bitcoin price fell over 3.0% during today's session as concern cover protests in China, bankruptcy of BlockFi and miners capitulation (about which we wrote in our earlier post) dampened market sentiment. From a technical point of view, Bitcoin failed to break above the local resistance zone at $16,270 and sellers once again took the initiative. Currently, price is testing psychological support at $16,000 and should break lower, sell-off may deepen towards next support at $ 15,570.

BITCOIN, M30 interval, Source: xStation5

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