Bitcoin is Starting a Bullish Phase, Might be Back to $17.5K

Digiasset News Nov 30, 2022

Bitcoin started to bullish, after a chaotic month with the collapse of FTX. This case is only an entity problem, not an asset, so crypto investor still believes in investing in crypto assets. This week there is a speech from Powell that surely make volatility for most asset investments. Some retail traders have a chance for this movement. Let's check below according to Coinglass data, in Q4 (quarter) in 9 years later mostly bitcoin price increased.

Based on data’s ( Nov 30th, 2022 ) CoinMarketCap in a last 24 hours BTC spiked up with +2.41 % and ETH + 5.29 %. Then, data on Illustration of Fear and Greed Index Crypto is still in fear category at level 29, mostly investors might not interest in BTC especially in spot market.

BTCUSDT Market Analysis

BTCUSDT is starting to uptrend, with a trendline ( check on the blue line above) that good area for buying this asset. It started Nov 23, 2022, on $15.5K and today has spiked up about 7%. The US dollar index (DXY) was dropping to 106, its lower than the level since last September. Maybe it will be a catalyst for bringing BTC higher. Keep your money management for good risk, although there is a good setup in the market for entry by technical analysis.

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