BTC price dips 4% as Bitcoin analysis reveals low liquidity above $33K

Bitcoin (BTC) saw a traditional pullback after the Nov. 16 Wall Street open as deja vu BTC cost action continued.BTC/ USD 1-hour chart. Source: TradingViewAnalysis: Door open to deeper BTC rate correctionData from Cointelegraph Markets Pro and TradingView followed Bitcoin as it descended to $36,470– down over $1,000 on the day.The landscape closely followed events from earlier in the week, where bulls stopped working to turn new highs to support and sustained long liquidations.These were less present on the day, with around $21 million of BTC longs cleaned out at the time of composing, per information from keeping track of resource CoinGlass. Source: CoinGlassCommenting on the status quo, market individuals kept in mind the repeated nature of BTC cost action, which left the possibility for both new highs and a much deeper retracement open.

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