3 reasons why Bitcoin price quickly recovered after dropping to $15.7K

The price of Bitcoin (BTC) dropped to as low as $15,670 on Binance on Nov. 15. The highly volatile drop came hours after BTC reached $16,355, demonstrating strong momentum. 

Three key factors likely caused the overnight drop in the price of Bitcoin. The three potential factors are a weekend shakeout, the daily moving average (MA) retest, and a retest of the parabola.

BTC/USD daily chart . Source: TradingView.com

Weekend shakeouts and lower support retests are healthy

As Cointelegraph reported,…


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