Bitcoin Price Plunge Due to Binance’s Settlement Could Be ‘Buy Dips’

Bitcoin Price Plunge Due to Binance’s Settlement Could Be ‘Buy Dips’ – Here’s Why

Nov 22, 2023 04:00 am Cryptocurrency 188

Bitcoin price declined over 4% and traded below the $36,500 support. BTC is still holding the key $35,650 support zone and dips might attract buyers.

Bitcoin started a fresh decline after reports of Binance’s settlement and CZ stepping down.

The price is trading below $37,000 and the 100 hourly Simple moving average.

There was a break below a key bullish trend line with support near $36,980 on the hourly chart of the BTC/USD pair (data feed from Kraken).

The pair could struggle in the short term, but dips might be attractive to the bulls.

Bitcoin Price Takes Hit

Bitcoin price failed to continue higher above the $37,800 resistance zone. BTC formed a short-term top and started a fresh decline after reports of Binance’s settlement and CZ stepping down.

There was a sharp decline below the $37,000 level. There was a break below a key bullish trend line with support near $36,980 on t ..

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