Bitcoin draws skepticism with the latest BTC price march to $37,000 amid a lack of volume.
“Something doesn’t feel right” about the latest BTC price uptick, a warning tells traders, as Bitcoin open interest passes $17 billion.) may have tapped $37,000 for the first time in 18 months, but traders are getting suspicious of BTC price action.Now up 6.6% in November, the largest cryptocurrency is surprising some market participants with its strength, having already gained nearly 30% in October.
“Support is anchored by new plunge protection at $33k. Meanwhile resistance at $40k has moved up to the $42k range,” it noted. “There is no denying the fact that price has been challenging a number of different local top signals, but there is also no denying that something doesn’t seem right about this move,” Material Indicators continued.
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