Bitcoin pulls back to support at $16,200 as unrest in China rattles global markets

Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here!

Coming off the long holiday weekend in the U.S., the major market indices trended down throughout the trading day, with the S&P, Dow and Nasdaq all closing in the red, notching losses of 1.54%, 1.45% and 1.58%, respectively. As a result of the continued weakness brought about by the unrest in China, “BC bears have the overall near-term technical advantage,” Wyckoff warned, while also offering some hope to the crypto faithful by noting that “the recent sideways price action very slightly favors the bulls.

— Michaël van de Poppe November 28, 2022 A failure to hold support here at $16,200 could lead to further downside, according to Poppe.

Coin Coin Latest News, Coin Coin Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Weekend sees low BTC volatility; 2 important levels remain unbeatenDisclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice Bitcoin managed to recover and climb back above the $16.2k level However, there was no promise of an imminent bullish move Bitcoin faces strong resistance at the $17k mark, which is a psychological round number […]
Source: CryptoAmb - 🏆 22. / 68 Read more »