{"id":13729,"date":"2021-11-14T14:49:31","date_gmt":"2021-11-14T13:49:31","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=13729"},"modified":"2021-11-14T14:49:40","modified_gmt":"2021-11-14T13:49:40","slug":"bitcoin-establish-a-nai-biting-weekly-close-on-nov-13","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/bitcoin-establish-a-nai-biting-weekly-close-on-nov-13\/","title":{"rendered":"Bitcoin (BTC) Establishes a Nail-Biting Weekly Close on Nov. 13"},"content":{"rendered":"\n
After the successful activation of the Taproot soft fork, Bitcoin (BTC) traded above a crucial zone into the weekly close on Nov. 13 as BTC\/USD was above $64,000 around 10 a.m on sunday<\/h5>\n\n\n\n
\"Bitcoin
Bitcoin (BTC) Establishes a Nail-Biting Weekly Close on Nov. 13<\/figcaption><\/figure>\n\n\n\n

Market Players Cheered Taproot<\/h2>\n\n\n\n


BTC\/USD was above $64,000 around 10 a.m. UTC on Sunday, according to Cointelegraph Markets Pro\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> and TradingView data<\/use><\/svg><\/span><\/a>.<\/p>\n\n\n\n
\"Bitcoin

BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView<\/em><\/figcaption><\/figure>\n\n\n\n

Due to U.S. regulators rejecting<\/a> what would have been the first spot-based exchange-traded fund, the pair rebounded in the latter half of Saturday after briefly falling below $63,000. (ETF).<\/p>\n\n\n\n

Bitcoin, seemingly undeterred by the move, quickly recovered, hitting local highs of $65,350 on Bitstamp before settling.<\/p>\n\n\n\n

Rather than bemoaning the ETF news, market players cheered the introduction of Taproot<\/a>.<\/p>\n\n\n\n

Taproot???<\/h2>\n\n\n\n

Taproot is the most significant modification to the Bitcoin protocol since 2017, bringing a slew of improvements ranging from security to Lightning Network performance. Developer Greg Maxwell proposed it seven years ago, and it has already come to fruition.<\/p>\n\n\n\n

“The real work will be in designing wallets\/protocols that build on top of it to take advantage of its capabilities,” Bitcoin core developer Pieter Wuille<\/use><\/svg><\/span><\/a> said in a Sunday statement.<\/p>\n\n\n\n

\u201cI'm very excited to see where that takes us.\u201d<\/p><\/blockquote>\n\n\n\n

Soft forks have traditionally preceded bullish BTC price periods, as noted by Cointelegraph<\/use><\/svg><\/span><\/a>.<\/p>\n\n\n\n

Can Bitcoin “save” the weekly closing price? <\/h2>\n\n\n\n

Meanwhile, bulls seeking a clean break above a six-month resistance level will face a challenge with Sunday's weekly close.<\/p>\n\n\n\n

In recent weeks, the market remained in the dark as the weekend drew to a close, with Bitcoin historically putting in worse price moves on Sundays and recovering on Mondays.<\/p>\n\n\n\n

Can the weekly be saved for\u00a0#Bitcoin<\/use><\/svg><\/span><\/a>?\u2014 Micha\u00ebl van de Poppe (@CryptoMichNL)\u00a0November 14, 2021<\/use><\/svg><\/span><\/a><\/p><\/blockquote>\n\n\n\n

“I'm looking for price to hold the previous high from April and for this to be a higher low,” trader Pentoshi said, referring to daily timeframes.<\/p>\n\n\n\n

\u201cThe range we don't want to go back into is the one we just came from.\u201d<\/p><\/blockquote>\n\n\n\n

“Moonvember” still has a nearly $100,000 end-of-month price objective, which is becoming increasingly contentious.<\/p>\n","protected":false},"excerpt":{"rendered":"

After the successful activation of the Taproot soft fork, Bitcoin (BTC) traded above a crucial zone into the weekly close on Nov. 13 as BTC\/USD was above $64,000 around 10 a.m on sunday Market Players Cheered Taproot BTC\/USD was above $64,000 around 10 a.m. UTC on Sunday, according to Cointelegraph Markets Pro and TradingView data. […]<\/p>\n","protected":false},"author":29,"featured_media":13320,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[25],"tags":[5428],"class_list":["post-13729","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-analysis","tag-bitcoin-bitcoin-price-market"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/11\/On-November-6-Bitcoin-was-down-0.77-percent-to-Rs-48-lakh.-1.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/13729","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/29"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=13729"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/13729\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/13320"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=13729"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=13729"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=13729"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}