Bitcoin

Strong

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   Nov 09, 2023 at 08:36 // Price
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   <div class="avatar" style="background-image:url(/upload/resize_cache/iblock/42a/60_60_1/42aa5ec847dba7f5a2bce5378ae70614.png)"></div> <span>Author<br>Coin Idol </span>
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 </div> <img class="page-news__main-pic lazy-load-detail-picture" src="https://coinidol.comdata:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAEAAAABCAQAAAC1HAwCAAAAC0lEQVR42mNkYAAAAAYAAjCB0C8AAAAASUVORK5CYII=" data-lazy-src="https://coinidol.com/upload/resize_cache/iblock/4da/900_900_1/9wiqr0utck671v4ps5fq0w1rekt3toeg.jpg" width="900" height="563" alt="Bitcoin price has resumed its uptrend" title="">
 <p><strong>The Bitcoin (BTC) price has made another excellent push to this years highs, breaking through the $36,000 resistance level. Price <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> from Coinidol.com.</strong></p>
 <h2 style="text-align: justify;" id="bitcoin-btc-price-long-term-prediction-bullish">Bitcoin (BTC) Price Long Term Prediction: Bullish</h2>
 <p style="text-align: justify;">Bitcoin has been trading in a range between $34,000 and $36,000 for the past two weeks as buyers prepare for a possible upward impulse. Today, buyers have surpassed the recent high, with the cryptocurrency reaching a high of $36,746.</p>
 <p style="text-align: justify;">Analysts expect Bitcoin&nbsp;to rise to a high of $40,000 if current resistance levels are broken. However, the price indication says otherwise. A retraced candlestick body at the November 2 rally tested the 78.6% Fibonacci retracement line. The retracement suggests that BTC would rise at the 1.272 Fibonacci extension level of $38,480.20 but then reverse. The upward momentum continues as the cryptocurrency approaches the $37,000 mark.</p>
 <h3 style="text-align: justify;" id="technical-indicators">Technical indicators:</h3>
 <p style="text-align: justify;">Key resistance levels – $30,000 and $35,000<br> Key support levels – $20,000 and $15,000</p>
 <p style="text-align: justify;"><img width="1024" alt="BTCUSD_(Daily Chart) – NOV. 9.jpg" src="https://cdn.thebittimes.com/images/2023/11/09/8f9eda4caff23fa9e9bbaf3eecb9668a.webp" height="535" title="BTCUSD_(Daily Chart) – NOV. 9, 2023"><br></p>
 <h2 style="text-align: justify;" id="bitcoin-btc-indicator-reading">Bitcoin (BTC) Indicator Reading</h2>
 <p style="text-align: justify;">The price bars and moving average lines on the 4-hour chart were horizontally flat due to the sideways trend. In addition, the price bars are characterised by Doji candlesticks that initiate a move within the trading range.</p>
 <p style="text-align: justify;">Today, November 9th, the consolidation phase is over and the Bitcoin price has returned to previous highs. The horizontal moving average lines will almost certainly trend upwards.</p>
 <h2 style="text-align: justify;" id="what-is-the-next-direction-for-btc-usd">What Is the Next Direction for BTC/USD?</h2>
 <p style="text-align: justify;">Bitcoin price has resumed its uptrend after the bulls broke through the barrier level. The bulls have broken the initial barrier at $35,975 but have not yet reached the high at $37,000. A further uptrend is possible if the Bitcoin price remains above the support at $36,000.</p>
 <p style="text-align: justify;">On November 2, BTC reached a new high of $35,975 before falling back into the range bound zone as reported before.&nbsp;</p>
 <p style="text-align: justify;"><img width="1024" alt="BTCUSD_( 4- hour Chart) – NOV. 9.jpg" src="https://cdn.thebittimes.com/images/2023/11/09/80103b487762cab51c27412e2675f257.webp" height="535" title="BTCUSD_( 4-hour Chart) – NOV. 9, 2023"><br></p>
 <p style="text-align: justify;"><i><span style="color: #959595;">Disclaimer. This <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> and forecast are the personal opinions of the author and are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol.com. Readers should do their research before investing in funds.</span></i></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/bitcoin-makes-a-strong-attempt-to-recapture-the-40-000-level-tbt69672.html">https://thebittimes.com/bitcoin-makes-a-strong-attempt-to-recapture-the-40-000-level-tbt69672.html</a></p>

Bitcoin Makes A Strong Attempt To Recapture The $40,000 Level

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