Bitcoin ignores BlockFi, China protests as BTC price holds at $16,000
BTC price rises higher with Bitcoin joining Asian stocks in a rebound despite continued pressure on FTX. p>
Market Update
Bitcoin (BTC) held on to crucial $16,000 support through Nov. 29 as bulls resisted fallout and ongoing FTX macro triggers.
![](https://s3.cointelegraph.com/uploads/2022-11/ceda4bb7-b93b-4283-acf8-78708b8af865.png)
Data from Cointelegraph Markets Pro and TradingView confirmed that BTC/USD left the lows unchanged overnight.
The pair had experienced a flash drop after the weekly close on Nov. 27 on China's uncertainty over COVID-19 measures.
A recovery has nevertheless pushed the market higher, with $16,500 coming into play at the time of writing.
As Cointelegraph reported, traders and analysts had warned that it was anything but essential to preserve current support, with a breach paving the way for $14,000 or lower.
Popular Crypto trader Tony even felt comfortable going long in BTC that day.
“Reversing the EQ would be a safer long entry, but keeping this open with a tight stop loss is the best way for me,” he revealed to Twitter followers.
An attached chart has identified the support and resistance areas in play over average timeframes.
![](https://s3.cointelegraph.com/uploads/2022-11/077d4949-0566-4d68-9c70-022b2ed6a4c7.png)
Even further fallout from the FTX debacle hasn't shaken Bitcoin's performance. Meanwhile, these have come in the form...
![Bitcoin ignores BlockFi, China protests as BTC price holds at $16,000](https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvN2EwMGQxMTktYWRkZC00MjdmLTgzYjMtYzc2Yzc1ODI2MDI5LmpwZw==.jpg?#)
BTC price rises higher with Bitcoin joining Asian stocks in a rebound despite continued pressure on FTX. p>
Market Update
Bitcoin (BTC) held on to crucial $16,000 support through Nov. 29 as bulls resisted fallout and ongoing FTX macro triggers.
![](https://s3.cointelegraph.com/uploads/2022-11/ceda4bb7-b93b-4283-acf8-78708b8af865.png)
Data from Cointelegraph Markets Pro and TradingView confirmed that BTC/USD left the lows unchanged overnight.
The pair had experienced a flash drop after the weekly close on Nov. 27 on China's uncertainty over COVID-19 measures.
A recovery has nevertheless pushed the market higher, with $16,500 coming into play at the time of writing.
As Cointelegraph reported, traders and analysts had warned that it was anything but essential to preserve current support, with a breach paving the way for $14,000 or lower.
Popular Crypto trader Tony even felt comfortable going long in BTC that day.
“Reversing the EQ would be a safer long entry, but keeping this open with a tight stop loss is the best way for me,” he revealed to Twitter followers.
An attached chart has identified the support and resistance areas in play over average timeframes.
![](https://s3.cointelegraph.com/uploads/2022-11/077d4949-0566-4d68-9c70-022b2ed6a4c7.png)
Even further fallout from the FTX debacle hasn't shaken Bitcoin's performance. Meanwhile, these have come in the form...
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