Is Crypto Worth The Risk?

Bitcoin ($BTC):

Bitcoin and other risk assets are still pressured by the broader risk-off sentiment. $BTC is still trading in the middle of the November range, hovering around $16,500.

Ether ($ETH):

Ether is also under pressure by the broader risk-off sentiment, hovering around the November point of control, trading just shy of $1,200.

U.S. Dollar Currency Index:

Looking at the USD Index, we can see potential support around the 105.500 area. DXY went down 7% in November, but could potentially gain back ground if it breaks the 108.000 handle. 

A breakout of the double bottom could lead to more pressure in risk assets like Bitcoin. is one of the top performing altcoins this morning as it keeps attracting more volume.

Binance Coin ($BNB):

The narrative is bullish for $BNB since Binance is positioned to benefit from the FTX user exodus.

There is an order book battle between the bulls and the bears in the $285-$315 range. Resistance level of $330 is to be retested before breaking out to our target of $415.

View the full report here: Market Note – November 29, 2022

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