Bitcoin fell from a high of $66,000, and Tesla fell 3% after Elon Musk warned him that he could sell more shares

Bitcoin (Bitcoin) Tested the $65,000 support level because the US market opened on November 15 and the weekend’s surge ended in a retracement.

BTC/USD 1-hour candlestick chart (Bitstamp). Source: TradingView

Analysts maintain optimistic BTC price outlook

Data from Cointelegraph Markets Pro with Transaction view It shows that BTC/USD gave up most of its overnight gains after hitting local highs above $66,000.

In order to get rid of the recent pattern, the currency pair failed to rebound further before the opening of Wall Street, and instead set its sights on the historical high in April.

For Cointelegraph writer Michaël van de Poppe, in order to maintain the overall bullish momentum in the short term, higher levels are more important.

“Still paying attention to potential rising wedge structures,” he said Summarize Next to it is an annotated chart.

“If Bitcoin breaks through $66.4-66.8K, it is clearly bullish on the circuit breaker.”

Elsewhere, attention is focused on indicators suggesting that there may be more room for price increases before the signal of the top of the classic cycle appears.

Philip Swift, the creator of the data resource Look Into Bitcoin, emphasized the expenditure output margin (SOPR), comparing the current state of the market with the “overheated” atmosphere in early 2021.

“The daily profit and loss levels on these chains are so low. Yesterday it was close to negative again. We are still far from the overheating level on the left side of the chart,” he said Comment.

“Since funding is also fairly flat, it may not be long before we start a meaningful upward trend again.”

Bitcoin SOPR chart.Source: Philip Swift/Twitter

SOPR looks at the price of coins moving in a certain period of time, and is it works Determine investor behavior in different parts of the Bitcoin price cycle.

New Tesla dip proves test of cryptocurrency

Ether (Ethereum), Solana (SOL) and Polkadot (DOT) were the leading altcoins of the day, and at the same time, stood out from the steady progress of other tokens.

related: “Bull market distribution has begun”-5 things worth paying attention to in Bitcoin this week

At the time of writing, ETH/USD rose by 2.6% and traded above US$4,700, closing again at an all-time high and the watershed mark of US$5,000.

In the traditional market, Tesla (TSLA) fell more than 3% when the US market opened, which is the same as the same period last week Imitating behavior Especially Bitcoin.

In a somewhat fierce Twitter exchange, CEO Elon Musk threatened to increase his Sell-off of existing stocks.

TSLA 1-day candlestick chart. Source: TradingView