Bitcoin broke up again with $ 16,000, many thought it would be deeper

 

During the session on November 12, the price of bitcoin successfully broke the $ 11 mark and then jumped above $ 16,000 - the highest level since January 16,400.

However, at the time of writing, bitcoin bulls have not been able to hold their momentum and have 'broken up' the $ 16.000 mark in the past hours.

Latest update shows Bitcoin price in the session this afternoon weakened 2,23% compared with 24 hours ago, stopping at 15,921 USD.

The decline in speed pulled the market capitalization back to 293 billion USD and the market share in the market reaching 64,7% (a level still relatively high).

While bitcoin's 24-hour trading volume remains hovering around $ 23 billion, without improvement it is unlikely to regain momentum in the coming days.

As long as bitcoin stays above the $ 15,500 support level, there's nothing to worry about, if you defend this support well, the price will soon bounce back to the $ 16,000 - $ 16,200 zone, according to 'Big Block'.

Bitcoin trader James Trevor, however, has a different view:

"Currently on the 4-hour chart, I see bitcoin being overbought, so the digital currency is likely to decline in the short term, to around $ 15,212."

The founder of crypto hedge fund HK2K, Jemaine Clement, tweeted that in the next few days the price of bitcoin is likely to do a pullback to below $ 14,000.

"It will be difficult for the bulls in the next few days, personally I think bitcoin needs a correction right now, which could be a pullback to $ 14,000 or deeper."

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