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Prediction for Bitcoin Price as it Drops 2.7% to $36,000 Level Top Levels to Watch Right Now

Within the volatile realm of cryptocurrencies, Bitcoin (BTC/USD) has experienced a significant decline of 2.7%, resulting in a recent drop to the crucial $36,000 mark. For traders and investors alike, this movement represents a critical turning point. They are now closely monitoring the market for any changes in momentum.

This research explores the critical levels of support and resistance that market observers should be aware of, offering insights into possible directions that Bitcoin may go in the days ahead.

Bitcoin Price Prediction

The leading cryptocurrency, Bitcoin, is currently negotiating a pivotal point in its market trajectory. The price of Bitcoin (BTC/USD) is $36,500 as of November 17, and there has been $26 billion in trading volume. The cryptocurrency asset commands a significant market share, with a current market valuation of over $713 billion.

Key Price Levels and Indicators
At $35,875, Bitcoin is presently at a turning point. This point marks a turning point in the short-term trajectory of the digital currency. The initial resistance for bitcoin is $36,656, then there are further obstacles around $37,190 and $38,025.

Traders need to keep a close eye on these levels because a breakthrough could portend a bullish continuation. On the other hand, there is immediate support at $35,260, and there are further safety nets around $34,540 and $33,700. These levels of support could be crucial in stopping future losses.

Relative Strength Index (RSI) and Moving Averages

With the RSI, a momentum indicator, at 48, the market is perceived as neutral. This reading implies that there is room for future moves in either direction because Bitcoin is neither overbought nor oversold.

At $36,400, the 50-Day Exponential Moving Average (EMA) is currently in tight alignment with the price of Bitcoin, suggesting a level of equilibrium in the market.

Chart Patterns and Market Implications

At the moment, the price of bitcoin is moving in a sideways trend, ranging between $35,875 to $36,650. This consolidation pattern indicates that traders and investors are waiting for a clear signal to decide on the next course of action, indicating that the market is now in a state of indecision. A break out of this range may serve as a crucial catalyst for additional Bitcoin price movement.

The general market direction for Bitcoin appears cautiously bullish given the current technical situation, particularly if it stays above the $35,875 threshold. The asset’s capacity to overcome the noted resistance levels will probably have an impact on how well it performs in the upcoming days. Higher resistance levels may be tested by Bitcoin if it can maintain momentum and cross these barriers, indicating a more certain bullish sentiment.

The cryptocurrency market is notoriously volatile, though, and outside events like news about regulations, general economic trends, and technology advancements can swiftly change the dynamics of the market. As a result, traders need to be on the lookout for any changes in the market that could affect the direction of Bitcoin.


In conclusion, Bitcoin’s technical picture right now points to an upward trend, if it can overcome significant resistance levels. It is recommended that market participants keep a close eye on these technical levels, as they will probably play a significant role in determining the short-term trajectory of Bitcoin.

In the ever-changing realm of cryptocurrency trading, it is crucial to maintain flexibility and pay close attention to market indications.

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