Denys Serhiichuk
Does Bitcoin (BTC) have the power to continue rising in early December?
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The market continues to rise; However, growth is no longer as strong as before.
Top coins from CoinMarketCap
BTC/USD
The price of Bitcoin (BTC) has increased by 1.58% in the last day.
Image from TradingView
On the hourly chart, BTC price may have reached a local resistance level of $38,839.
If the daily bar closes far from it, the bears could take the initiative, which could lead to a correction to the $37,647 support soon.
Image from TradingView
On the larger time frame, one should focus on the $38,437 level. If there is a false breakout, there is a possibility of a decline to the $38,000 zone by the end of the week.
Image from TradingView
From a medium-term perspective, it is still too early to make any distant price predictions as there are only a few days left until the end of the candle. However, if it rises above $38,500, the accumulated energy could be enough for a further rise to $40,000.
At press time, Bitcoin is trading at $38,380.
About the author
Denys Serhiichuk
With over five years of trading experience, Denys has extensive knowledge of both technical and fundamental market analysis. Mainly, he started his blog on TradingView where he publishes all relevant information and makes predictions about top coins.
His experience is backed by working in top blockchain-related companies such as W12, Platinum Listing, ATB Coin and others. They can be contacted at [email protected].
Learn Crypto Trading, Yield Farms, Income strategies and more at CrytoAnswers
https://nov.link/cryptoanswers
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