Bitcoin will ‘teleport’ to $14K or worse if BTC breaks $16K — Analyst
Bitcoin faces pressure from China, a stock market trend in addition to the FTX fallout. Bitcoin (BTC) hovered above $16,000 on the Nov. 28 Wall Street open as analysts diverged on what to expect from the next market move. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin spot price near key support Data from Cointelegraph Markets Pro and TradingView showed BTC/USD maintaining the $16,000 support level at the time of writing amid misgivings over China’s impact on risk assets. After a modestly higher weekly close, the pair still lacked volatility as one commentator warned of a “teleport” toward $12,000 should $16,000 break . “When it breaks below 16k, it teleports to 12k-14k,” Il Capo of Crypto insisted. Popular Twitter account Credible Crypto asked where the volatility had gone, while Crypto Tony likewise identified $16,000 as a line in the sand for his own trading strategy. “Finally some movement .. Stop loss firmly remains at $16,000, but will close if hit and look...