Strong

Bitcoin

<p>The post <a href="https://coinpedia.org/price-analysis/bitcoin-price-displays-a-strong-bullish-reversal-is-a-btc-price-breakout-imminent/">Bitcoin Price Displays A Strong Bullish Reversal! Is A BTC Price Breakout Imminent?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>The crypto market displays a positive uptrend of approximately 2%, following which the market leader, Bitcoin, reclaimed the price tag of $38,000. Top cryptocurrencies have recorded massive price action recently, with major tokens recording new yearly highs.</p> 
<p>On the other hand, the <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/">BTC price</a> continues its struggle to break out of the key resistance level of $38,250 as the price is repeatedly facing rejection. Presently, Bitcoin is hovering close to $38,100 and is predicted to test its key level soon, of which the outcome is unpredictable.</p> 
<h2 class="wp-block-heading" id="h-analyst-s-btc-price-prediction">Analyst’s BTC Price Prediction:</h2> 
<p>Michael Van De Poppe, a well-known crypto analyst with substantial followers of 675K on the “X” platform, has posted about the upcoming possible price action for the star crypto.</p> 
<p>The analyst predicts that the BTC price is on the verge of testing for a breakout as Bitcoin price is recording higher lows frequently. Further, this indicates a strong bullish influence in the market.</p> 
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   <p lang="en" dir="ltr">Another higher low is established on <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a>. <br><br>The trend remains to be upwards, while the resistance has been tested several times now. <br><br>A breakout is very likely to occur. <a href="https://t.co/2uHcbWAhs3">pic.twitter.com/2uHcbWAhs3</a></p>— Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1729587554482069818?ref_src=twsrc%5Etfw">November 28, 2023</a>
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<p>The BTC price claimed the $35,000 mark for the first time this month, following which the market gained significant price action. After this, the price continued to gain momentum but faced rejection above $38,000.&nbsp;</p> 
<p>The price then recorded a low of close to $36,000, following which the bulls regained momentum and jumped, but the price faced rejection at the same range. Further, this resulted in the coin forming a positive uptrend pattern.</p> 
<p>The resistance zone of around $38,250 plays a vital role as the star crypto faces repeated rejection at that range, indicating a strong liquidation point at that level in the crypto space.</p> 
<h2 class="wp-block-heading" id="will-btc-price-hit-40-000-soon">Will BTC Price Hit $40,000 Soon?</h2> 
<p>Positively, the Relative Strength Index (RSI) displays a sharp rise in its average, highlighting an increasing price action for Bitcoin. Further, the average head toward the overbought range, suggesting the possibility of a bullish reversal soon.</p> 
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 <img decoding="async" src="https://lh7-us.googleusercontent.com/X1dei7vrP5RHMTIA6dEqhk39pzqK0PN8MFCx8VhjKVnUOb4ZEh-fmEB3KkIphgn49up3_sf6YdlWjbWeisgxKQKm2BjovZCZCAFm5se7gF3cMgpUd9Hb2MBnIH02vLwPE4O3NVy9wQv43K2Pgo7az20" alt="Bitcoin Price Analysis">
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<p>If the bulls gain power and hold the price above its key level of $38,250, the BTC price will regain momentum and prepare to test its resistance upper resistance level of $39,001.86 soon. Maintaining the price at that level will set the stage for Bitcoin to attempt to test its target of $40,000 by the year-end.</p> 
<p>Conversely, if the bears overpowered the bulls, the price would lose momentum, resulting in the price falling and testing its support level of $37,033 soon.</p> 
<p>Moreover, if a trend reversal occurs, the price is expected to face a massive correction in value, which could result in it trading as low as $30,000 this year.</p>

Bitcoin Price Displays A Strong Bullish Reversal! Is A BTC Price Breakout Imminent?

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