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BTC price strength endures the end of November, with Bitcoin beginning the new month with a trip toward the top of its local range.
Bitcoin (BTC) returned to $38,000 on Dec.
BTC/USD 1-hour chart. Source: TradingView
Bitcoin bears fail to spark monthly close sell-off
The close came in at just over $37,700, with bid liquidity preserving the intraday range and avoiding a last-minute sell-off, per order book data from trading resource Material Indicators.
BTC/USDT order book data. Source: Material Indicators/X
“Monthly close looks pretty good closing above $35K,” popular trader Skew reacted on X (formerly Twitter).
“Could see some multi week compression between $35K - $39K.”
BTC/USD 1-month chart. Source: Skew/X
Skew added that major resistance on monthly timeframes now lies higher — at $47,000 and around the 2021 all-time high of $69,000.
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