United

Bitcoin

April

Captain

<p>The post <a href="https://coinpedia.org/price-analysis/bitcoin-price-analysis-as-binance-dust-settles-will-btc-price-soar-to-41k-or-plummet-to-34k-next/">Bitcoin Price Analysis: As Binance Dust Settles, Will BTC Price Soar to $41K or Plummet to $34K Next?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>Despite recent regulatory pressure from the United States, the cryptocurrency market has remained relatively stable. Investors are showing confidence by doubling their crypto investments in anticipation of a potential bull run following next year’s Bitcoin halving. </p> 
<p>In the past 24 hours, the price of Bitcoin (BTC) has risen by 2.6 percent, reaching approximately $37,317 during the early Asian trading session. However, there are concerns that the $38,000 resistance level has proven to be a formidable barrier over the past three weeks, posing a risk of a potential reversal.</p> 
<h2 class="wp-block-heading" id="h-bitcoin-price-analysis">Bitcoin Price Analysis</h2> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> Both the Rising Wedge (4h) and Ascending Triangle (12h) patterns have played out.<br><br>– If <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> bulls succeed in breaking the 38k resistance, it will confirm the triangle upside Breakout, signaling a Bullish trend, and Bitcoin could Potentially touch 41k.<br><br>In a Bearish… <a href="https://t.co/9scB02PeCY">pic.twitter.com/9scB02PeCY</a></p>— Captain Faibik (@CryptoFaibik) <a href="https://twitter.com/CryptoFaibik/status/1727460501301686693?ref_src=twsrc%5Etfw">November 22, 2023</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>While many altcoins have experienced gains in the past 24 hours, the outlook for Bitcoin remains uncertain as its dominance in the market slowly decreases. A breakout from the current consolidation phase could result in a significant $10,000 weekly candlestick for Bitcoin. Conversely, if the bulls fail to maintain their positions in the coming weeks, Bitcoin’s price may retrace towards the support range between $31,000 and $32,000.</p> 
<p>Renowned crypto analyst Captain Faibik advises investors to exercise caution and wait for clear confirmation before making any hasty decisions.</p> 
<p>Weekly indicators show that Bitcoin’s Relative Strength Index (RSI) has surpassed 70 for the first time since April 2021, indicating that bulls still have control. However, on the daily timeframe, a potential reversal pattern forms with a head and shoulders (H&amp;S) pattern coupled with a bearish divergence on the RSI.</p> 
<p>Market experts believe that with the recent Binance purge behind us, the U.S. Securities and Exchange Commission (SEC) may be more inclined to approve a dozen spot Bitcoin exchange-traded funds (ETFs). Additionally, U.S.-based crypto exchanges have gained a competitive edge with Binance’s forced exit from the market.</p>

Bitcoin Price Analysis: As Binance Dust Settles, Will BTC Price Soar to $41K or Plummet to $34K Next?

Table of Contents

CoinPedia News

Other articles published on Nov 23, 2023

KyberSwap hacker opens door for negotiations after $45 million exploit

Sui Integrates Zero-Knowledge Proofs, Sees High TVL and Token Value

Chiliz Coin: Price Analysis and Predictions

Bloomberg Analysts Bullish on the Approval of Spot Bitcoin ETFs: Shiba Inu, Pepe, and New Coin To...

MATIC Coin: Current Outlook and Price Predictions

Grayscale Submits Revised Bitcoin ETF Filing With Minimal Amendments

Join our free newsletter for daily crypto updates!