Bitcoin (BTC) Price Prediction (Nov 28th 2024)!

Story Highlights

The Bitcoin price records a 3% bullish reversal and reclaims the $95,000 mark.

Technical indicators experience increased price volatility, indicating uncertainty this week.

Sustained bullish price action could push the BTC price to $98,000 today.

The cryptocurrency market has added 3.91% to its valuation and is currently veiled at $3.32 Trillion with a 24-hour trading volume of $201.934 billion. Following this, the Bitcoin price has reclaimed the $95k mark with an intraday surge of 3.18% and a trading volume of $71.091 billion.

Notably, the BTC price is forming a strong support/resistance level around the $95,000 mark, making it a crucial watch zone for the upcoming price action. Will the Star Crypto retest the $98k mark today or retest the $90,000 level?

BTC Price Records Bullish Reversal!

After recording a negative price action this week, the Bitcoin crypto token has recorded a strong bullish recovery today. Despite recording a drop of 22.89% in its daily trading volume, it has reclaimed the $95k level, highlighting increased accumulation in the market.

TradingView: BTC/USDT

The Relative Strength Index (RSI) has constantly declined for the third consecutive day. However, its average trendline shows a bullish curve. This highlights a mixed price sentiment for the BTC price today.

Moreover, the MACD indicator has experienced a decline in the green histogram with a high possibility of a Death Cross in the 4H time frame. This suggests that the Bitcoin token may soon retest its lower support level.

Bitcoin ETF Daily Flow Update

Over the past 24 hours, no BTC ETF recorded a negative flow for the first time this week. Notably, Bitwise’s “BITB” recorded the highest inflow of $48 million. Following this, Fidelity’s “FBTC” added $40.2 million, Grayscale’s “BTC” added $12 million and Franklin’s “EZBC” added $2.8 million.

Source: SoSoValue

On the other hand, ETFs like BlackRock “IBIT,” ARK’s “ARKB,” Invesco’s “BTCO,” Valkyrie’s “BRRR,” VanEck’s “HODL,” WTree’s “BTCW”, and Grayscale’s “GBTC” have recorded a neutral flow. With this, the total flow for the day concluded at +$103 million.

What is Bitcoin’s Price Prediction Today?

If the bullish sentiment sustains the BTC price may retest its resistance level of $96,500. Further, if the Bitcoin ETF records increased flow, this could push the price toward its $98,000 range.

On the flip side, if the bears regain momentum, the BTC crypto may retest its $93,000 range. Moreover, if the bears outrun the bulls, the star crypto may plunge toward its important support level of $91,800 during the upcoming hours.

To know about the long-term possibilities of the largest cryptocurrency, Read CoinPedia’s Bitcoin Price Prediction and also subscribe to us to stay updated on the latest crypto-related news!

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