Bitcoin Price Regains Strength As The Bulls Aim For $40K


20 Nov 2023 3:07 AM

Bitcoin price started a fresh increase above the $37,000 resistance zone. BTC could accelerate higher once there is a clear move above the $37,350 resistance....

  • Bitcoin price has started a fresh increase above the $37,000 resistance zone.
  • The price is trading above $36,700 and the 100 hourly Simple Moving Average.
  • There is a key bullish trend line forming with support near $36,720.
  • If the price clears $37,350 and $38,000, it could continue to move up toward $40,000.
  • However, if it fails to rise above the $37,350 resistance, it could start another decline.

The sentiment of the article is generally positive as it highlights the fresh increase in Bitcoin price and the potential for further upward movement if certain resistance levels are cleared. However, there is also a mention of the possibility of another decline if the price fails to rise above a specific resistance level.

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What is the current Bitcoin price and its relation to the 100 hourly Simple Moving Average?What are the key resistance levels that Bitcoin needs to clear for further upward movement?What are the immediate support levels if the price starts to decline?What are the major support and resistance levels for Bitcoin in the near term?What are the technical indicators suggesting about the price movement of Bitcoin?Note: The analysis provided is based on the given input article and may not reflect the most up-to-date information on Bitcoin price and market conditions.

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