Bitcoin Price Prediction, Critical Battle for Bulls
- BTC underwent a recent retest of trendline support, displaying resilience by bouncing back.
- Bitcoin fluctuates within an ascending channel, hitting a three-week upper resistance at $38,000, followed by consolidation
- Currently, Bitcoin remains above $37,200 and the 50-hourly moving average in its current trading.
Bitcoin consolidating, poised for rally if $38000 resistance breaks.
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According to Coingabbar Technical Analysis, Bitcoin is poised to surpass the $38,000 resistance, aiming for a bullish surge beyond $40,000 for the first time since April 2022.
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Bitcoin stayed strong, steadily rising above the $37,500 resistance.
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Bulls are facing challenges in overcoming the $38,000 resistance.
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The question remains: Will BTC overcome the upcoming test and break the barrier?
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Successful breakthrough past this level could open the path for further upward movement to $40,000.
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Failure to breach the $38,000 hurdle may trigger a downside pullback, with a potential retreat toward the $35,000 support level.
KEY LEVELS :
RESISTANCE LEVEL : $37,900-$38,200
SUPPORT LEVEL : $37,200-$36,800
Disclaimer: Crypto is not regulated and can offer considerable risks. There may be no regulatory remedies available in the event of any losses resulting from price analysis. As a result, before engaging in any transactions involving crypto products, each investor must perform in-depth examination or seek independent advice.
