Bitcoin

Captain

Billion

<p>The post <a rel="nofollow" href="https://coinpedia.org/price-analysis/bitcoins-battle-for-40k-what-lies-ahead-in-q4-2023/">Bitcoin’s Battle for $40K: What Lies Ahead in Q4 2023?</a> appeared first on <a rel="nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>Bitcoin has displayed a strong bullish turnover as the BTC price has gained over 11% within the past week, recording a 2-month high, indicating a bullpower in the market and adding over 10 Billion to the total market valuation.</p> 
<p><a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/">Bitcoin price</a> had managed to break out of the resistance level at $30,000, but the rally was short-lived as the bulls failed to hold power, resulting in the price plunging back to its key level at around $29,600.</p> 
<p>At the time of publishing, Bitcoin was recorded trading at $29,701.83. Following the pump yesterday, BTC has been trading steadily.</p> 
<h2 class="wp-block-heading" id="h-bitcoin-price-prediction-by-crypto-analyst">Bitcoin Price Prediction By Crypto Analyst:</h2> 
<p>Captain Faibik, a well-known crypto analyst with a substantial following of 66.5K+ on the “X” platform,&nbsp; has recently predicted that the support/Resistance level at $31,000 is crucial as the faith of Bitcoin for the year depends on it.</p> 
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   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> bulls have been doing quite well in the past few days but the real test lies at the 31k S/R level.<br><br>– If bulls successfully clear the resistance, <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> could touch the 38-40k area by mid-December.<br><br>– If <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> remains below the 31k, it might retest the 25k support.<a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw">#Crypto</a> <a href="https://t.co/93qDQNn8Ol">pic.twitter.com/93qDQNn8Ol</a></p>— Captain Faibik (@CryptoFaibik) <a href="https://twitter.com/CryptoFaibik/status/1715570926165827892?ref_src=twsrc%5Etfw">October 21, 2023</a>
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<p>The analysts predicted that if the bulls clear the resistance level at $31,000, the Bitcoin price could touch the $38,000 to $40,000 area by mid-December and conclude the year around the same range.&nbsp;</p> 
<p>But if the star crypto remains below the $31,000 level in the coming month, the price will lose momentum and retest its support level at $25,000 this year.</p> 
<h2 class="wp-block-heading" id="will-bitcoin-price-go-back-up">Will Bitcoin Price Go Back Up?</h2> 
<p>The BTC price has displayed significant movements in the past week, resulting in recreating hopes for the price to record a new yearly high in the coming time. Further, Bitcoin dominance has crossed the 50% mark for the first time since August, with the current holding of 51.6%, indicating increasing accumulation for the star crypto.</p> 
<p>If the bulls manage to hold power and push the price above the $30,000 mark, BTC will regain momentum and will run to test its upper resistance of $31,000 in the coming month.&nbsp;</p> 
<p>Conversely, if the bears regain power over the bulls and a trend reversal occurs, the price will lose momentum and retest its support level at $29,600. Moreover, if the bears continue to dominate the market, the coin will continue to dip and test its key support level of $28,600 in the coming days.</p>

Bitcoin’s Battle for $40K: What Lies Ahead in Q4 2023?

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