Bitcoin

<p>The post <a href="https://coinpedia.org/price-analysis/btc-price-stressed-at-40k-can-buyers-take-it-off-to-45k/" rel="noopener noreferrer nofollow">BTC Price Stressed At $40K, Can Buyers Take It Off To $45K?</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>Tracing back its steps, Bitcoin takes a sharp fall this week, potentially the first bearish week after eight weeks of bull run. However, this Sunday’s closing price should be below $43,786 for this to happen. This gives enough time for the buyers to reclaim the trend momentum and potentially push the BTC price higher than $45K if the retest phase succeeds.&nbsp;</p>
<p>Starting the week with a 5.81% fall this Monday, the profit booking spree cuts out a significant amount of last week’s bull run. Currently, the BTC price retests the $40K break and is also a critical trendline breakout.&nbsp;</p>
<h2 class="wp-block-heading" id="h-btc-price-chart-signals-a-pivotal-juncture-at-play">BTC Price Chart Signals A Pivotal Juncture At Play</h2>
<p>The 1D price chart shows a bullish breakout rally of a rising channel and the $40K mark, failing to break above the $45K barrier. This results in a pullback phase and retests the channel breakout. Further, the gradual increment in selling pressure warns of a longer correction, potentially sliding to $37,700.&nbsp;</p>
<figure class="wp-block-image size-large"><img decoding="async" width="1024" height="484" src="https://image.coinpedia.org/wp-content/uploads/2023/12/13124529/BTCUSD_2023-12-13_11-13-27-1024x484.png" alt="" class="wp-image-253188" srcset="https://image.coinpedia.org/wp-content/uploads/2023/12/13124529/BTCUSD_2023-12-13_11-13-27-1024x484.png 1024w, https://image.coinpedia.org/wp-content/uploads/2023/12/13124529/BTCUSD_2023-12-13_11-13-27-300x142.png 300w, https://image.coinpedia.org/wp-content/uploads/2023/12/13124529/BTCUSD_2023-12-13_11-13-27-768x363.png 768w, https://image.coinpedia.org/wp-content/uploads/2023/12/13124529/BTCUSD_2023-12-13_11-13-27-1536x727.png 1536w, https://image.coinpedia.org/wp-content/uploads/2023/12/13124529/BTCUSD_2023-12-13_11-13-27-150x71.png 150w, https://image.coinpedia.org/wp-content/uploads/2023/12/13124529/BTCUSD_2023-12-13_11-13-27.png 1814w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
<p>Source – <a href="https://www.tradingview.com/x/00d9yzb4/" rel="noopener noreferrer nofollow">Tradingview</a></p>
<p>At present, the BTC price trades at $41,030 and forms a bearish candle with an intraday fall of 1.03%. Resting above the broken trendline, Bitcoin struggles to gain momentum for a post-retest reversal. Nevertheless, the frequent long-tail formations tease a bounceback, and the fall in trading volume supports the possibility of reversal.&nbsp;</p>
<h2 class="wp-block-heading" id="h-on-chain-data-shows-that-hodlers-always-win-nbsp">On-Chain Data Shows That HODLers Always Win&nbsp;</h2>
<p>With more than 90% pullback during the 2011 bear market, the pullback trend from ATH has been mostly declining. From 85% in 2015 to 75% in 2020, the pullback phase from ATH is losing intensity, except for the black swan event of FTX in 2022.&nbsp;</p>
<figure class="wp-block-image"><img decoding="async" width="1528" height="860" src="https://image.coinpedia.org/wp-content/uploads/2023/12/13124545/image-74.png" alt="" class="wp-image-253189" srcset="https://image.coinpedia.org/wp-content/uploads/2023/12/13124545/image-74.png 1528w, https://image.coinpedia.org/wp-content/uploads/2023/12/13124545/image-74-300x169.png 300w, https://image.coinpedia.org/wp-content/uploads/2023/12/13124545/image-74-1024x576.png 1024w, https://image.coinpedia.org/wp-content/uploads/2023/12/13124545/image-74-768x432.png 768w, https://image.coinpedia.org/wp-content/uploads/2023/12/13124545/image-74-390x220.png 390w, https://image.coinpedia.org/wp-content/uploads/2023/12/13124545/image-74-150x84.png 150w" sizes="(max-width: 1528px) 100vw, 1528px">
</figure>
<p>Source: <a href="https://twitter.com/OnChainCollege/status/1731659668030627977" rel="noopener noreferrer nofollow">On-Chain College</a></p>
<p>With the larger picture showcasing a rise in Bitcoin price since its inception, the long-term holders are winning on paper.&nbsp;Therefore, in the long-term term, the <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/" rel="noopener noreferrer nofollow">BTC price prediction</a> remains optimistic and hints at $100K next year.</p>
<h2 class="wp-block-heading" id="h-is-it-worth-buying-this-dip-in-bitcoin">Is It Worth Buying This Dip In Bitcoin?</h2>
<p>If Bitcoin shows sustainability above $40K, then the buyers will likely manage to revive the uptrend and aim 25% higher to reach the $50,000 mark. Potentially creating a new 52-week high, the BTC price will likely enter 2024 at levels greater than $50,000.</p>
<p>On the flip side, a failure to sustain above $40K will likely prolong the correction spree to a dangerous extent. In this case, Bitcoin will likely retest the crucial support of the rising trendline and the 50D EMA at $37,700.</p>

BTC Price Stressed At $40K, Can Buyers Take It Off To $45K?

Table of Contents

CoinPedia News

Other articles published on Dec 13, 2023

Will BNB Coin Price Continue to Rise? BNB’s On-Chain Data!

Bitcoin Exchange CoinMENA Receives Operating License From Dubai’s VARA

How the Crypto Industry in Ukraine Encompasses The Broader Spectrum of Economic and Geopolitical ...

Cardano Fears A Dip As It Faces Restriction at $0.60

Flare Network’s FAssets to transform XRP and BTC usability

Bitcoin and Ethereum Announcement from Coinbase for Users Outside the USA!

Join our free newsletter for daily crypto updates!