Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
Home»EXCHANGE NEWS»Bitcoin price avoids collapse, but can bulls clear this major hurdle?
EXCHANGE NEWS

Bitcoin price avoids collapse, but can bulls clear this major hurdle?

By Crypto FlexsNovember 29, 20232 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Bitcoin price avoids collapse, but can bulls clear this major hurdle?
Share
Facebook Twitter LinkedIn Pinterest Email

Bitcoin price cut losses and rose above $37,750. BTC has gained speed but is still struggling to break out of the $38,500 resistance area.

  • Bitcoin again faces significant resistance near $38,500.
  • The price is trading above $37,500 and the 100-hour simple moving average.
  • On the hourly chart of the BTC/USD pair (data feed from Kraken), a breakout occurred above the main bearish trendline with resistance near $37,250.
  • The pair is struggling to clear the resistance of $38,500 and correct the uptrend.

Bitcoin price decline continues

Bitcoin price revisited the $36,720 support zone. BTC avoided a collapse and began a new increase above the $37,000 level. There was a clear move above the $37,500 level.

Moreover, on the hourly chart of the BTC/USD pair, it has broken a major bearish trend line with resistance near $37,250. The pair surged above the $37,750 resistance. However, the downtrend became active again near the $38,500 resistance.

A high was made near $38,390 and the price is currently correcting an upward trend. It moved below the 23.6% Fib retracement level of the recent wave from the $36,720 swing low to the $38,390 high.

Bitcoin is currently trading above $37,500 and the 100-hour simple moving average. On the other hand, immediate resistance is close to the $38,200 level. The first major resistance is forming near $38,400. Key resistance is currently near the $38,500 level. A break above the $38,500 resistance could initiate a strong rally.

Source: TradingView.com BTCUSD

The next major resistance could be near $39,200, above which BTC could rise towards the $39,500 level. More gains could push BTC towards $40,000 resistance.

Another drop in BTC?

If Bitcoin fails to rise above the $38,400 resistance zone, another decline could begin. Immediate support for the downside is near the $37,600 level.

The next major support is $37,500 or the 50% Fib retracement level of the recent wave from the $36,720 swing low to the $38,390 high. There is further downside risk if it falls below $37,500. If indicated, the price may fall towards the $36,720 support in the near term.

Technical indicators:

Hourly MACD – MACD is now losing speed in bullish territory.

Hourly Relative Strength Index (RSI) – The RSI for BTC/USD is now above the 50 level.

Key support levels – $37,600, then $37,500.

Key resistance levels – $38,400, $38,500 and $39,200.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Dogecoin (DOGE) after collision

June 23, 2025

Litecoin Key Support in Focus Price Eye Brake Out Determination

June 20, 2025

Bitcoin is ahead of the FOMC meeting. What is the following?

June 17, 2025
Add A Comment

Comments are closed.

Recent Posts

Like the initial Cardano, a way to reach $ 300 for Loy tokens more than $ 450K

June 25, 2025

AIXA Miner 2025 | AI-Driven Dogecoin Cloud Mining For Stable Daily Passive Income

June 24, 2025

Stably Introduces Stablecoin Development & Advisory Services For Institutions & Enterprises

June 24, 2025

Senior Trader Uses XRP To Start Bitcoin (BTC) Mining Machine, Earning $8,857 A Day

June 24, 2025

WF Holding Ltd Announces Entry Into The Digital Cryptocurrency Field

June 24, 2025

Crypto Scam Markets thrives again after attempting to clean up Telegram.

June 24, 2025

On the 7th, NFT transaction sales volume of immutable tower

June 24, 2025

Sequans starts $ 384M Bitcoin Treasury Initiative with Swan Bitcoin Partnership.

June 23, 2025

Dogecoin (DOGE) after collision

June 23, 2025

GAP 3 Partners FZCO Becomes Dubai’s First Regulated Virtual Asset Investment Advisor With Operational License From VARA

June 23, 2025

R0AR Lists On BitMart: $1R0R Makes CEX Debut

June 23, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Like the initial Cardano, a way to reach $ 300 for Loy tokens more than $ 450K

June 25, 2025

AIXA Miner 2025 | AI-Driven Dogecoin Cloud Mining For Stable Daily Passive Income

June 24, 2025

Stably Introduces Stablecoin Development & Advisory Services For Institutions & Enterprises

June 24, 2025
Most Popular

Market volatility causes $138 million liquidated on centralized exchanges within 24 hours.

January 22, 2024

Bitfinex Alpha | BTC is tied to stocks, but alts are outperforming

September 9, 2024

BitMEX offers 200x leverage on Ether perpetual assets ahead of the expected US spot ETF.

June 5, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.