{"id":184119,"date":"2023-11-27T15:39:25","date_gmt":"2023-11-27T15:39:25","guid":{"rendered":"https:\/\/precoinnews.com\/?p=184119"},"modified":"2023-11-27T15:39:25","modified_gmt":"2023-11-27T15:39:25","slug":"will-bitcoin-breach-the-major-resistance-zone-between-38k-to-40k-for-heightened-bullish-momentum","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/bitcoin\/will-bitcoin-breach-the-major-resistance-zone-between-38k-to-40k-for-heightened-bullish-momentum\/","title":{"rendered":"Will Bitcoin Breach the Major Resistance Zone Between $38K to $40K for Heightened Bullish Momentum?"},"content":{"rendered":"

After briefly touching $38,000, Bitcoin (BTC) has been unable to retest this zone, given that it’s emerging as a significant ceiling.<\/p>\n

Top analyst Michael van de Poppe highlighted that the $38,000 to $40,000 range was a massive resistance zone, which the leading cryptocurrency had to break for an upward continuation.<\/p>\n

Nevertheless, the analyst pointed out that all hope was not lost since Bitcoin continuously made higher lows, having attacked this resistance for the fourth time.<\/p>\n

\"\"\/<\/p>\n

Higher highs and higher lows signal a rising trend, illustrating that buyers continuously buy the dip based on notable demand. Bitcoin was hovering around $36,963 at press time, according to CoinGecko data.<\/p>\n

Holding Continues to Engulf the BTC Market<\/strong><\/h2>\n

Even though Bitcoin is in a consolidation phase since it has lacked impressive momentum to push it above $38K, long-term investors are not relenting in their quest to continue accumulating the cryptocurrency.<\/p>\n

<\/p>\n

For instance, the amount of BTC held by long-term investors recently hit a new all-time high (ATH), as highlighted by leading on-chain metrics provider IntoTheBlock.<\/p>\n

\"\"\/<\/p>\n

Holding reduces selling pressure since cryptocurrencies are held in digital wallets or cold storage for future purposes other than speculation.<\/p>\n

Meanwhile, Bitcoin recently reclaimed the $37,000 zone after Argentina elected a bitcoin-friendly president. Javier Milei bagged 55% of the votes in the November 19 presidential run-off and has been vocal about his Bitcoin admiration. At the same time, he has labelled central banks as scams that trigger inflationary taxes.<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

After briefly touching $38,000, Bitcoin (BTC) has<\/p>\n","protected":false},"author":3,"featured_media":184118,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[47],"tags":[],"yoast_head":"\nWill Bitcoin Breach the Major Resistance Zone Between $38K to $40K for Heightened Bullish Momentum? - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/bitcoin\/will-bitcoin-breach-the-major-resistance-zone-between-38k-to-40k-for-heightened-bullish-momentum\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Will Bitcoin Breach the Major Resistance Zone Between $38K to $40K for Heightened Bullish Momentum? - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"After briefly touching $38,000, Bitcoin (BTC) has\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/bitcoin\/will-bitcoin-breach-the-major-resistance-zone-between-38k-to-40k-for-heightened-bullish-momentum\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2023-11-27T15:39:25+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2023\/11\/Will-Bitcoin-Breach-the-Major-Resistance-Zone-Between-38K-to-40K-for-Heightened-Bullish-Momentum.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/bitcoin\/will-bitcoin-breach-the-major-resistance-zone-between-38k-to-40k-for-heightened-bullish-momentum\/\",\"url\":\"https:\/\/precoinnews.com\/bitcoin\/will-bitcoin-breach-the-major-resistance-zone-between-38k-to-40k-for-heightened-bullish-momentum\/\",\"name\":\"Will Bitcoin Breach the Major Resistance Zone Between $38K to $40K for Heightened Bullish Momentum? 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