Bitcoin Price Prediction: The BTC price trajectory has recently hit a stagnation point around the $38,000 level, influenced by the U.S. SEC’s delay in approving Bitcoin spot ETFs. Over the past two weeks, Bitcoin (BTC) has been primarily oscillating between $38,000 and $35,000. An analysis of the daily time frame suggests this period of consolidation may actually be a retest phase following a wedge-pattern breakout, potentially presenting a buying opportunity.
Also Read: Bitcoin (BTC) Derivatives Market Show Resemblance to 2021 Bull Run, Options Expiry Today
Will BTC Price Recovery Continue to $48000
The BTC price sustainability above the recently breached channel should bolster further rally.
A breakdown below the new support trendline could trigger a fresh correction in the BTC
The intraday trading volume in Bitcoin is $16.3 Billion, indicating a 46% gain.
Source-Tradingview
On November 9, the Bitcoin price broke out of a rising wedge pattern’s resistance trendline. This pattern
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