The price of Bitcoin is on the rise and may reach $40,000 before December 2023. The global crypto market cap has surpassed $1.42 trillion, with Bitcoin’s price exceeding $37,400. The cryptocurrency is approaching a crucial resistance level, and a breakout beyond this point could lead to new all-time highs by the end of the year.
Despite constant resistance at the $38,825 to $38,942 zone, Bitcoin has found strong support at lower levels, indicating a potential breakout. The question now is whether the price will surpass $40,000 before the end of the month.
In the short term, Bitcoin trades within predetermined levels and holds an ascending trend line. The volume is favoring the bulls, and the RSI indicator shows a healthy upswing. It is expected that the price will maintain a steady upward movement and break through the crucial resistance zone between $37,864 and $37,967, setting the stage for further gains.
The Bitcoin price prediction for December 2023 remains bullish, with the token maintaining a healthy upward trend. The upcoming weekend is expected to be crucial and may significantly impact the year-end price. The price is headed towards the range high of around $37,991 and may make another attempt to rise and sustain above $38,000. Overall, the outlook for Bitcoin’s price is positive as it continues its upward trajectory.
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