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<img width="1200" height="681" src="https://coingape.com/wp-content/uploads/2023/11/iuBUhSLe-e1700492149579.png" class="attachment-full size-full wp-post-image" alt="BTC Price" decoding="async" style="float:right; margin:0 0 10px 10px;">
Bitcoin Price Prediction: The BTC price trajectory has recently hit a <a href="https://coingape.com/markets/bitcoin-price-prediction-38k-sparks-new-correction-fear/" rel="noopener noreferrer nofollow">stagnation point around the $38,000 level</a>, influenced by the U.S. SEC’s delay in approving Bitcoin spot ETFs. Over the past two weeks, Bitcoin (BTC) has been primarily oscillating between $38,000 and $35,000. An analysis of the daily time frame suggests this period of consolidation may actually be a retest phase following a wedge-pattern breakout, potentially presenting a buying opportunity.
Also Read: <a href="https://coingape.com/__trashed-10/" rel="noopener noreferrer nofollow">Bitcoin (BTC) Derivatives Market Show Resemblance to 2021 Bull Run, Options Expiry Today</a>
<h2 id="b-will-btc-price-recovery-continue-to-48000-b">Will BTC Price Recovery Continue to $48000</h2>
<ul>
 <li style="font-weight: 400;" aria-level="1">The BTC price sustainability above the recently breached channel should bolster further rally.</li>
 <li style="font-weight: 400;" aria-level="1">A breakdown below the new support trendline could trigger a fresh correction in the BTC</li>
 <li style="font-weight: 400;" aria-level="1">The intraday trading volume in Bitcoin is $16.3 Billion, indicating a 46% gain.</li>
</ul>
<img decoding="async" class="alignnone" src="https://s3.tradingview.com/snapshots/p/Pvuvocvd.png" alt="Bitcoin Price Prediction" width="1946" height="1105">Source-Tradingview
On November 9, the <a href="https://coingape.com/price/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin price</a> broke out of a rising wedge pattern’s resistance trendline. This pattern has been indicative of a steady recovery over the last 17 months, and the bullish breakout signals that buyers might be gearing up for an even more assertive recovery.&nbsp;
Currently, the BTC price is trading around $37,200, and the delay in the approval of <a href="https://coingape.com/bitcoin-etf-sec-reportedly-in-talks-with-exchanges/" rel="noopener noreferrer nofollow">Bitcoin’s spot ETF</a> has led to a state of uncertainty in the markets. Generally, breakout trades are characterized by quick movement and high momentum, so an extended retest phase could suggest a weakening in buyer conviction.&nbsp;
<blockquote>
 If the buyers manage to rebound from its new support trendline, a 30% rally towards the target of $48,200 could be anticipated.&nbsp;
</blockquote>
Additionally, an ascending trendline in the 4-hour chart provides dynamic support during this retest. However, a break below this support would mark the prior breakout as a bull trap.
<h2 id="b-crypto-analysts-hints-sustained-recovery-b">Crypto Analysts Hints Sustained Recovery</h2>
A renowned analyst, @thescalpingpo has outlined a <a rel="noopener noreferrer nofollow" href="https://x.com/thescalpingpro/status/1726558286806462766?s=20">potential roadmap</a> for the Bitcoin price in the coming months. According to this analyst, the BTC is showing a repetitive pattern of breaking out from significant resistance, expanding, undergoing a minor pullback, and then continuing its rally. With the coin price currently above the $37,000 mark, it is predicted to rise to around $42,721 before entering a minor correction.
<ul>
 <li aria-level="1">Exponential Moving Average: The 20-day <a href="https://coingape.com/education/exponential-moving-average-how-to-leverage-it-in-crypto-market/" rel="noopener noreferrer nofollow">EMA</a> slope provides dynamic support to the BTC price during the current retest.</li>
 <li aria-level="1">Vortex Indicator: A bullish crossover between the VI+(blue) and VI-(pink) slopes indicates that the bullish trend is still in place.</li>
</ul>
The post <a rel="noopener noreferrer nofollow" href="https://coingape.com/markets/bitcoin-price-prediction-is-btc-heading-to-45000/">Bitcoin Price Prediction: Is $BTC Heading to $45000 by November End?</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coingape.com">CoinGape</a>.

Bitcoin Price Prediction: Is $BTC Heading to $45000 by November End?

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