Convergence

Bitcoin

Divergence

The post <a href="https://coinpedia.org/price-analysis/bitcoin-price-records-new-high-will-the-btc-price-hit-40000-over-the-weekend/">Bitcoin Price Records New High! Will The BTC Price Hit $40,000 Over The Weekend?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
The crypto market leader, Bitcoin, has displayed a significant price action during November by gaining over 10% in value. Further, the BTC price recently recorded a new yearly high, indicating a strong bullpower in the crypto space. 
Following the price pump in October, the <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/">BTC price</a> traded in a closed space between $33,913.37 and $35,219.03 for a brief period. After multiple failed attempts, the bulls regained momentum and successfully broke out of the range. 
After this, the market leader jumped over 5%, resulting in the price achieving its $37,000 mark. Bitcoin hovered close to its support/resistance of $37,033.37 for a while, following which the bulls lost momentum and the price dropped 3%. 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/Zr5oC8o62JJn2itC-28B5bJxUyHgfac0p90IiCveRA5TjRGxpq5DHV2SrtunaROI9xdaOQuDps2oSLgUz2gy0nSAeSYcPsvtveswV-lOH0T04bY6bpXh1pSjjkRDrE6Z5KViQiT7DGGMPXXqzBZoQbo" alt="Bitcoin Price Analysis">
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 TradingView: BTC/USDT
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Bitcoin price then traded in a consolidated range between $36,000 and $37,033.37 for a while, following which the price regained momentum and the coin broke out of the resistance level. 
The market leader then displayed significant price volatility for a short period, after which the price traded in a closed space between $37,033.37 and $38,250. 
Recently, the BTC price successfully broke out of the range and is on a path to test its upper level of $39,001.86 soon, of which the outcome is unpredictable.&nbsp; 
The Moving Average Convergence Divergence (MACD) displays a constant green histogram, indicating a strong bullish sentiment in the market. Further, the averages show a constant rise, suggesting the star crypto will continue gaining value in the coming days. 
<h2 class="wp-block-heading" id="h-will-the-btc-price-hit-45-000-soon">Will The BTC Price Hit $45,000 Soon?</h2> 
If the bulls push the price above the resistance level of $39,000, the BTC price will regain momentum and prepare to test its yearly target of $40,000 soon. Further, if the market holds the price at that level, it will set the stage for Bitcoin to attempt to test its upper high of $42,020 by the year-end. 
Conversely, if the bears overpower the bulls, the price will lose momentum and fall to test its support level of $38,250 soon. Moreover, if the bears continue to dominate the market, it will plunge further and prepare to test its lower support level of $37,033. 
If the market experiences a trend reversal, the BTC price might experience a significant price correction in value, resulting in the coin testing its low of $34,000.

Bitcoin Price Records New High! Will The BTC Price Hit $40,000 Over The Weekend?

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