Bitcoin, the leader in the cryptocurrency market, showed a significant move in November, gaining more than 10% of its value. In addition, Bitcoin** recently hit a new yearly high, indicating a strong bull run in the crypto space.
After October's ***, BTC was briefly at 33,913$37 to $35,21903 USD is traded in a closed range. After several failed attempts, the bulls regained momentum and managed to break out of the range.
Since then, the market leader's share price has risen by more than 5%, reaching the $37,000 mark. Bitcoin was trading at 37,033 at one pointThe $37 support level hovered near the resistance level, followed by the bulls losing momentum, **3%.
Subsequently, Bitcoin** was trading at $36,000 to $37,033 at one pointTraded in a range between $37 and then regained momentum and broke through the resistance level.
Subsequently, the market leader experienced significant volatility for a short period of time, after which it was at 37,033Trade in a closed range between $37 and $38,250.
Recently, BTC** has successfully broken through this range and is about to test 39,001$86 cap, but the outcome is still difficult to predict.
The Moving Flat Convergence Divergence (MACD) shows a constant green histogram indicating strong bullish sentiment in the market. In addition, the averages show a continuous**, indicating that the star cryptocurrency will continue to increase in value in the coming days.
If the bulls push ** above the $39,000 resistance level, BTC** will regain momentum and be ready to test its $40,000 annual target soon. Moreover, if the market holds** at this level, this will set the stage for Bitcoin to try to test the $42,020 high before the end of the year.
Conversely, if the bears overwhelm the bulls, **will lose momentum and soon** to test the $38,250 support level. Moreover, if the bears continue to dominate the market, it will go further** and be ready to test its lower support at $37,033.
If there is a trend reversal in the market, BTC could experience a significant correction, causing the coin to test a low of $34,000.