As the cryptocurrency sector finally starts to turn a lighter shade of green, Bitcoin (BTC) is leading the charge, and experts see a bullish end of the month on the cards for the major digital asset if it continues to show strength and break above a key level from now on.
Specifically, Bitcoin could see a monthly close above $17,500, provided it can breach the crucial $17,000 level, according to tweet It was published by the pseudonymous cryptocurrency trading expert known as Crypto credibility On November 30th.
Optimism is growing for Bitcoin
In addition, the optimistic forecast comes from another reputable crypto analyst, altcoin sherpa, Who also believe that $17,500 is a potential target for Bitcoin after it tested the $16,500 level, which is also shown on the chart. is published On November 30th.
Additionally, reputable cryptocurrency trading expert Michael Van de Poppe Think Bitcoin has a good chance of continuing towards $18,300 if it holds the “previous resistance level of support (around $16.6K).”
These positive moves and estimations are playing out in the foreground of significant moves on the horizon for bitcoin, as noted by several Technical Analysis (TA) indicators shared by prominent cryptocurrency analysts such as Sharpe, Tardigrade Dealer, Mags and Matthew Hyland.
Bitcoin price analysis
As it stands, bitcoin changes price at $16,884, showing an increase of 2.32% on the day, on top of the 1.79% gain over the previous seven days, which reduces the loss by 18.59% on the monthly chart.
The market capitalization of the leading decentralized finance (DeFi) asset at the time of writing is $324.52 billion, maintaining its position as the largest cryptocurrency by this indicator, according to CoinMarketCap Data retrieved on 30 November.
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Post-Bitcoin November could close above $17,500 if this level first seen on Coinphony is breached.