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 Sprint to $40,000 – Could It Happen Soon Before EOY?
EXCHANGE NEWS

Bitcoin Price Sprint to $40,000 – Could It Happen Soon Before EOY?

By Crypto FlexsDecember 1, 20233 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Bitcoin Price Sprint to ,000 – Could It Happen Soon Before EOY?
Share
Facebook Twitter LinkedIn Pinterest Email

Bitcoin price is consolidating above the $37,500 support area. BTC could attempt a strong rally if there is a clear move above the $38,400 resistance level.

  • Bitcoin is still struggling to break the $38,500 resistance zone.
  • The price is trading above $37,400 and the 100-hour simple moving average.
  • The hourly chart of the BTC/USD pair (data feed from Kraken) shows a major bullish trendline forming with support near $37,450.
  • The pair may begin another rise and attempt to clear the $38,500 resistance level.

Bitcoin price remains supported

Bitcoin price is still trading below the $38,500 resistance zone. The last swing high was formed near $38,419 before a downward correction.

BTC fell below the $38,000 level. It moved below the 23.6% Fib retracement level of the key increase from the $36,721 swing low to the $38,419 high. The price surged below the $37,650 support level, but the downside was limited.

A low was formed near $37,501 and the price is currently consolidating. It is currently testing the 50% Fib retracement level from the $38,419 swing high to the $37,501 low.

Bitcoin is currently trading above $37,400 and the 100-hour simple moving average. The hourly chart of the BTC/USD pair also has a major bullish trend line forming with support near $37,450. On the other hand, immediate resistance is close to the $38,000 level.

The first major resistance forms near $38,050 or the 61.8% Fib retracement level of the recent decline from the $38,419 swing high to the $37,501 low, above which the price may revisit the $38,400 resistance area.

Source: TradingView.com BTCUSD

A break above the $38,400 resistance could trigger a new rally. 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.

Are there more downsides to BTC?

If Bitcoin fails to rise above the $38,050 resistance zone, another decline could begin. Immediate support on the downside is near the $37,600 level or the 100-hourly SMA.

The next major support is near $37,450 and the trend line. There is further downside risk if the price falls below $37,450. If indicated, the price may fall towards the $36,720 support in the near term.

Technical indicators:

Hourly MACD – MACD is now gaining 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 $37,450.

Key resistance levels – $38,050, $38,400 and $39,500.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

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

June 17, 2025

The Etther Leeum Foundation supports the Tornado Cash Dev for $ 500K.

June 14, 2025

Ether Lee Price Eye $ 3K milestone -Momentum is built as the buyer returns.

June 11, 2025
Add A Comment

Comments are closed.

Recent Posts

Why is Cryptogames the best encryption gambling site?

June 18, 2025

ECB Chairman Lagarde aims to seize the global order to strengthen the Euro’s global position.

June 17, 2025

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

June 17, 2025

R0AR Introduces Unified DeFi Platform For Token, Liquidity, And NFT Staking

June 17, 2025

Avail Goes Full Stack To Capture $300bn Global Blockchain Infra Market

June 17, 2025

Polyhedra connects 83% ZKJ token collisions to liquidity attacks, CEX activities and market liquidation.

June 17, 2025

ZKJ Crypto Price Pumps 20%: Dead Cat Bounces?

June 17, 2025

Trading The World On Bybit

June 16, 2025

Universal Digital Inc. Announces Bitcoin Treasury Strategy Across North America And Asia

June 16, 2025

FansHash Launches Zero-Barrier Cloud Mining With Daily Payouts And Global Pool Access

June 16, 2025

The Number One Way For Ordinary People To Become Rich In 2025

June 16, 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

Why is Cryptogames the best encryption gambling site?

June 18, 2025

ECB Chairman Lagarde aims to seize the global order to strengthen the Euro’s global position.

June 17, 2025

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

June 17, 2025
Most Popular

Avalanche is fighting to maintain more than $ 19. Avax can only hold …

March 10, 2025

Ether Bulls aims to be $ 3,000 when the purchase of Blackrock is accelerated.

June 10, 2025

SEC charges founder of $1.7 billion HyperFund scheme with fraud

January 30, 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.