Bitcoin circled $96,000 on Nov. 29 as a “fantastic” support retest gave way to consolidation.
<figure><img alt="Bitcoin price retains 8% gains as attention switches to Ethereum comeback" src="https://s3.cointelegraph.com/uploads/2024-11/019376f1-6862-7d50-a16f-38169b8a5325" title="">
 <figcaption style="text-align: center;">
 BTC/USD 1-hour chart. Source: Cointelegraph/TradingView
 </figcaption>
</figure>
<h2 id="bitcoin-holds-ground-after-bulls-protect-90-000">Bitcoin holds ground after bulls protect $90,000</h2>
Data from&nbsp;<a data-ct-non-breakable="null" href="https://subscription.cointelegraph.com/?_gl=1*7499wx*_ga*MTQ0MzQ0NzI4Ny4xNzE2MzY1NTA0*_ga_53R24TEEB1*MTcxNjM2NTUwNC4xLjEuMTcxNjM2Njg2MC4wLjAuMA.." rel="noopener noreferrer nofollow" target="null" text="null" title="null">Cointelegraph Markets Pro</a>&nbsp;and&nbsp;<a data-ct-non-breakable="null" href="https://www.tradingview.com/symbols/BTCEUR/?exchange=BINANCE" rel="noopener noreferrer nofollow" target="null" text="null" title="null">TradingView</a>&nbsp;showed Bitcoin (<a data-ct-non-breakable="null" href="https://cointelegraph.com/bitcoin-price" rel="noopener noreferrer nofollow" target="null" text="null" title="https://cointelegraph.com/bitcoin-price">BTC</a>) price volatility cooling after <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-demands-95k-reclaim-six-figure-btc-price-calls-return" rel="noopener noreferrer nofollow" target="null" text="null" title="null">experiencing rapid gains</a>&nbsp;on Nov. 27, ending in a close just below $96,000 on Bitstamp.
BTC/USD refused to cave to selling pressure, leaving $90,000 unviolated and instead respecting a new support level forming over the past two weeks.
“Fantastic retest of $91,000 as support,” trader and analyst Rekt Capital <a data-ct-non-breakable="null" href="https://x.com/rektcapital/status/1861869298735624198" rel="noopener noreferrer nofollow" target="null" text="null" title="null">said</a>, striking a positive tone on the latest market moves on X.
<blockquote>
 “Now all about breaking the trendline (blue) to get back to $100,000.”
</blockquote>
<figure><img alt="Bitcoin price retains 8% gains as attention switches to Ethereum comeback" src="https://s3.cointelegraph.com/uploads/2024-11/019376eb-cc88-778b-9376-e07a1ae09f3d" title="">
 <figcaption style="text-align: center;">
 BTC/USD 1-day chart. Source: Rekt Capital/X
 </figcaption>
</figure>
Fellow market participant The Kingfisher, known for covering liquidation levels on exchange order books,&nbsp;<a data-ct-non-breakable="null" href="https://x.com/kingfisher_btc/status/1862125591048458633" rel="noopener noreferrer nofollow" target="null" text="null" title="null">noted</a>&nbsp;liquidity&nbsp;above and below the spot price being hunted on the day.
The latest data from monitoring resource <a data-ct-non-breakable="null" href="https://www.coinglass.com/pro/futures/LiquidationHeatMap" rel="noopener noreferrer nofollow" target="null" text="null" title="null">CoinGlass</a> confirmed that the bulk of ask liquidity was laddered above $97,000 at the time of writing.
<figure><img alt="Bitcoin price retains 8% gains as attention switches to Ethereum comeback" src="https://s3.cointelegraph.com/uploads/2024-11/019376ef-5b21-7c10-b8f0-deba944f4d05" title="">
 <figcaption style="text-align: center;">
 BTC liquidation heatmap (screenshot). Source: CoinGlass
 </figcaption>
</figure>
“High leverage may trigger potential liquidations in the short term,” IT Tech, a contributor at onchain analytics platform CryptoQuant, <a data-ct-non-breakable="null" href="https://x.com/IT_Tech_PL/status/1862127806450106797" rel="noopener noreferrer nofollow" target="null" text="null" title="null">told</a> X followers while responding to the data.
Earlier, <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-spoofing-btc-price-97-4-k-record-profit-taking" rel="noopener noreferrer nofollow" target="null" text="null" title="null">Cointelegraph reported</a> on manipulatory moves by large-volume traders impacting short-term BTC price performance.
<h2 id="eth-price-action-sees-4k-target-return">ETH price action sees $4K target return</h2>
Meanwhile, Traders focused on altcoins, specifically the largest altcoin, Ether (<a data-ct-non-breakable="null" href="https://cointelegraph.com/ethereum-price" rel="noopener noreferrer nofollow" target="_self" text="null" title="https://cointelegraph.com/ethereum-price">ETH</a>), which initiated a long-awaited upside over the week.
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-2-b-daily-profit-taking-mostly-new-hodlers-research" rel="noopener noreferrer nofollow" target="null" text="null" title="null">Bitcoin $2B daily profit-taking involves mostly new hodlers — Research</a>
Reacting, Rekt Capital highlighted the $4,000 mark as a potential near-term bullish target.
“Ethereum has revisited the ~$3700 resistance of its main market structure (light blue),” he <a data-ct-non-breakable="null" href="https://x.com/rektcapital/status/1861922836501110976" rel="noopener noreferrer nofollow" target="null" text="null" title="null">wrote</a> alongside an illustrative chart.
<blockquote>
 “Now needs a Weekly Close above this resistance to break out into macro trend continuation to new highs not seen since late 2021.”
</blockquote>
<figure><img alt="Bitcoin price retains 8% gains as attention switches to Ethereum comeback" src="https://s3.cointelegraph.com/uploads/2024-11/019376ec-fc34-7d51-9bea-28fcbd361d20" title="">
 <figcaption style="text-align: center;">
 ETH/USD 1-week chart. Source: Rekt Capital/X
 </figcaption>
</figure>
Trader Credible Crypto considered the odds of a sub-$3,000 dip on ETH/USD first.
“Recent strength on $ETH is nice to see but we are now approaching the first ‘trouble area’ on the ETH/BTC pairing,” part of a corresponding X post <a data-ct-non-breakable="null" href="https://x.com/CredibleCrypto/status/1861888800076574985" rel="noopener noreferrer nofollow" target="null" text="null" title="null">said</a>.&nbsp;
<blockquote>
 “A rejection here and lower high would give us a push into weekly demand, which, paired with a ~10% correction on $BTC would give us our major 2700-2800 buy zone.”
</blockquote>
<figure><img alt="Bitcoin price retains 8% gains as attention switches to Ethereum comeback" src="https://s3.cointelegraph.com/uploads/2024-11/019376ee-36a5-7379-85ac-9f58c97b574f" title="">
 <figcaption style="text-align: center;">
 ETH/USD 3-day chart. Source: Credible Crypto/X
 </figcaption>
</figure>
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Bitcoin price retains 8% gains as attention switches to Ethereum comeback

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