Bitcoin

The post <a href="https://coinpedia.org/price-analysis/more-wait-for-bitcoin-break-btc-price-struggles-to-cross-38k/" rel="noopener noreferrer nofollow">More Wait For Bitcoin Break! BTC Price Struggles To Cross $38K!</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
With a bearish Sunday, the week starts with a red candle for Bitcoin as the BTC price struggles to absorb the overhead supply wave. Taking another rejection from the $38K barrier, the sellers remain strong to plunge Bitcoin for a 0.92% drop on a Sunday.&nbsp;
As the bearish momentum survives, at press time, the BTC price registers a 0.29% drop but forms a long-wick candlestick. Overall, the weekend signals a bullish failure and teases another bear cycle within the flag pattern.&nbsp;
<figure class="wp-block-image size-large"><img decoding="async" width="1024" height="480" src="https://image.coinpedia.org/wp-content/uploads/2023/11/27143450/BTCUSD_2023-11-27_14-01-42-1024x480.png" alt="" class="wp-image-249071" srcset="https://image.coinpedia.org/wp-content/uploads/2023/11/27143450/BTCUSD_2023-11-27_14-01-42-1024x480.png 1024w, https://image.coinpedia.org/wp-content/uploads/2023/11/27143450/BTCUSD_2023-11-27_14-01-42-300x141.png 300w, https://image.coinpedia.org/wp-content/uploads/2023/11/27143450/BTCUSD_2023-11-27_14-01-42-768x360.png 768w, https://image.coinpedia.org/wp-content/uploads/2023/11/27143450/BTCUSD_2023-11-27_14-01-42-1536x720.png 1536w, https://image.coinpedia.org/wp-content/uploads/2023/11/27143450/BTCUSD_2023-11-27_14-01-42-150x70.png 150w, https://image.coinpedia.org/wp-content/uploads/2023/11/27143450/BTCUSD_2023-11-27_14-01-42.png 1825w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
Source- <a href="https://www.tradingview.com/x/MqJqBjGJ/" rel="noopener noreferrer nofollow">Tradingview</a>
Bringing in the good news, the buyers managed to sustain the recovery rally and form the sixth consecutive green candle in the weekly chart. Marking a 37.92% growth, the BTC price is struggling to fuel the November rally. The bullish recovery aligns with the positive sentiments of <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/" rel="noopener noreferrer nofollow">Bitcoin price prediction</a> and signals further recovery.
Currently, the BTC price trades at $37,356 and an intraday pullback of 0.29%. Nevertheless, any positive news can magnify the bullish trend momentum and lead to a sharp price jump.&nbsp;
Technical indicators:
EMA: The positive trend in the 50D EMA and the 200D EMA maintains a remarkable growth. Further, post-golden crossover, the bullish gap increases within the two average lines, signalling a strong uptrend.
MACD Indicator: With a minimal bearish gap within the MACD and signal lines, the downtrend action may soon cease with a crossover.&nbsp;
<h2 class="wp-block-heading" id="h-will-btc-price-give-a-new-breakout-rally">Will BTC Price Give A New Breakout Rally?</h2>
With the bullish flag in motion, the general market sentiment anticipates another bullish breakout in the BTC price. Therefore, an early reversal possibility looms over the ongoing pullback phase. Further, the weekly trend reflects a strong bullish wave in motion, increasing the possibility of a breakout.
Therefore, with the positive sentiments surrounding the biggest crypto, the BTC price can jump by 12% to the $42K mark. Conversely, the ongoing pullback can retest the bottom support trendline close to $36K.

More Wait For Bitcoin Break! BTC Price Struggles To Cross $38K!

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