Bitcoin

<ul>
 <li><strong>Bitcoin (BTC) is currently consolidating in the range between $34,800 and $35,250.</strong></li>
 <li><strong>If BTC breaks the $35,250 key resistance, it could pave the way for the $36,150 price target.</strong></li>
</ul>
<p>Bitcoin (BTC) has found itself caught in a stiff consolidation phase, with <a href="https://thenewscrypto.com/bitcoins-price-eyes-extended-surge-as-bullish-momentum-persists/" target="_blank" rel="noopener noreferrer nofollow">price levels swinging</a> between $34,800 and $35,250. Despite several attempts by the bulls to break through the resistance at $35,250, the bears have proved strong around the $35,300 and $35,550 levels.</p>
<p>This week, Bitcoin made multiple efforts to breach the critical $35,250 resistance, but all endeavors fell short. The price reached a high of approximately $35,286 before embarking on a corrective downward trajectory.</p>
<p>Notably, a significant spike occurred in Bitcoin’s value, <a href="https://thenewscrypto.com/bitcoins-price-witnesses-massive-uptick/" target="_blank" rel="noopener noreferrer nofollow">surging from the low</a> of $34,288 to a high of $35,902 on November 2nd. However, the past 24 hours have seen a minor uptick of 0.29% in Bitcoin’s price, bringing it to $34,920. During this period, trading volume rose by 4.18% to $13 billion, and the cryptocurrency’s market cap experienced a modest 0.29% increase, reaching $682 billion.</p>
<h3 class="wp-block-heading" id="btc-hits-halt-at-34-900-what-next">BTC Hits Halt at $34,900 What Next?</h3>
<p>According to the daily price chart, BTC is currently hovering around $34,920, closely tracked by the 100-hourly simple moving average. Meanwhile, an important development is the emergence of a substantial contracting triangle with support at approximately $34,680, as observed on the hourly BTC/USD chart.</p>
<div class="wp-block-image">
 <figure class="aligncenter size-large"><img decoding="async" width="1024" height="556" src="https://thenewscrypto.com/wp-content/uploads/2023/11/BTCC-1024x556.png" alt="" class="wp-image-85278" srcset="https://thenewscrypto.com/wp-content/uploads/2023/11/BTCC-1024x556.png 1024w, https://thenewscrypto.com/wp-content/uploads/2023/11/BTCC-300x163.png 300w, https://thenewscrypto.com/wp-content/uploads/2023/11/BTCC-768x417.png 768w, https://thenewscrypto.com/wp-content/uploads/2023/11/BTCC-150x81.png 150w, https://thenewscrypto.com/wp-content/uploads/2023/11/BTCC.png 1299w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption"><em>Bitcoin (BTC) Price Chart (Source: TradingView)</em>
  </figcaption>
 </figure>
</div>
<p>On the bullish front, immediate resistance persists around the $35,250 level, with the next crucial barrier situated at $35,400, or the <a href="https://thenewscrypto.com/bitcoin-btc-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">upper trend line</a> of the triangle. A strong breakthrough above the $35,800 resistance level may pave the way for a potential ascent toward the $36,150 resistance level.</p>
<p>Conversely, if Bitcoin falters in overcoming the $35,250 resistance zone, a continuation of the downtrend could be on the cards. Initial support on the downside materializes near the $34,800 mark, with the next significant support at the $34,650 range, coinciding with the lower trend line of the triangle. In the event of a breach below $34,650, the cryptocurrency faces the risk of further declines, potentially dipping below the critical $34,200 support level in the near future.</p>

Bitcoin’s Consolidation Continues Will It Break $35,000 Barrier?

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