Market Analysis

Bitcoin falls from $66K highs, Tesla down 3% after Elon Musk warns he could sell more stock

It’s a familiar scenario to start the week as Bitcoin follows TSLA downhill after rallying overnight.

Bitcoin (BTC) tested $65,000 as support as U.S. markets opened Nov. 15 as a weekend surge ended in retracement.

Bitcoin falls from $66K highs, Tesla down 3% after Elon Musk warns he could sell more stock

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

Analysts maintain positive BTC price outlook

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD giving back a chunk of its overnight gains having hit local highs above $66,000.

In a move away from recent patterns, the pair failed to rally further into the start of trading on Wall St., instead eyeing April’s old all-time high.

For Cointelegraph contributor Michaël van de Poppe, it was higher levels that were more important in order to preserve overall bullish momentum in the short term.

“Still looking at a potential rising wedge structure here,” he summarized alongside an annotated chart.

Read more:  Bitcoin price could hit $85K in months as indicators flip bullish — report

On traditional markets, Tesla (TSLA) fell over 3% at the U.S. markets opened, a move which, like the same time last week, saw copycat behavior from Bitcoin in particular.

In a somewhat heated Twitter exchange, CEO Elon Musk had threatened to add to his existing stock sell-offs.

Bitcoin falls from $66K highs, Tesla down 3% after Elon Musk warns he could sell more stock

TSLA 1-day candle chart. Source: TradingView

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