Bitcoin price today, November 22, 2022

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Although it is still consolidating in a narrow trading range between $15,800 and $17,200, Bitcoin is currently trading bearish due to continued market volatility.

As early as November 21, major cryptocurrencies were trading in the red, with the market cap of cryptocurrencies down nearly 4% from the first day to $803 billion. On the other hand, the total volume of the crypto market increased by 59% yesterday to $52.85 billion.

DeFi saw $4.60 billion in total volume, or 8% of the cryptocurrency market’s total 24-hour volume. While all stablecoins had a volume of $51 billion, or just over 97% of the cryptocurrency market’s 24-hour volume.

Bitcoin price forecast

Bitcoin is currently trading at $16,112 and has a 24-hour trading volume of $28 billion. In roughly the last 24 hours, Bitcoin has fallen by more than 3%. With a live market capitalization of $309 billion, down from $352 billion, CoinMarketCap is currently on top.

The total supply is 21,000,000 BTC coins, and currently 19,213,150 BTC coins are in circulation.

A breakout will determine the direction of price movement for Bitcoin, which is settled in a trading range between $16,000 and $17,000.

A cross at this level could take Bitcoin to the next resistance area at $18,100. Currently, Bitcoin is seeing immediate resistance near the $17,250 level.

The immediate support level for Bitcoin is $15,800, and a negative development of this level could lead to an oversold spot at $15,800. A further break below $15,800, though, could lower Bitcoin to $14,550.

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