Bitcoin started the new week at $17,300
“Bitcoin, which has been on its side for a while, started the day around $17,300, progressing at $17,000 over the weekend.”
While the Non-Farm Employment data in the USA increased by 263 thousand people in November, above the market expectations (200K), the unemployment rate remained flat at 3.7%. In this period, the rise in average hourly wages was above the expectations with 0.6% on a monthly basis and 5.1% on an annual basis. After the data was announced, Chicago Fed President Evans made statements that the peak level should be higher even though the rate of interest rate increase slowed down.
Bitcoin started the new week at $17,300
US stock markets were mixed on the last trading day of the week. In China, a receptive course was observed in Asian stock markets this morning with the relaxation of Covid-19 applications.
One of the most important data that can affect this week is the Producer Price Index (PPI), which will be announced in the USA on Friday, and the expectation for the PPI will be 7.2%.
Although minor pullbacks were observed after the Non-Farm Employment data from the USA, which came above expectations on Friday, Bitcoin, which took back what it gave, is priced at $ 17300 in the morning. It seems quite positive that Bitcoin has tested the $17000 levels many times over the weekend and is priced above this level during the day. In the continuation of the upward movement, the first resistance level to be met is $17500, and then $17815. In case of a downward pullback, we can say that the first support level is $17000 and then the minor uptrend (yellow line) $16550 can be met.
