In the daily timeframe, Bitcoin (BTC) has exhibited remarkable resilience by holding firm the critical $25,000 support level. With an impressive display of strength, it subsequently shattered the $31,500 and $32,000 resistance barriers, establishing a compelling bullish momentum. Currently, Bitcoin is in a consolidation phase after reaching the formidable $35,500 resistance level, from where it has been oscillating.
The intriguing aspect of the current scenario lies in the range-bound movement that Bitcoin is undergoing. While it hovers near the $35,500 resistance, it is also maintaining a crucial support range between $31,500 and $32,000. This support zone acts as a significant pivot point for the cryptocurrency’s price action.
If Bitcoin can successfully preserve this support range, it is poised to make an ascent towards the coveted $40,000 level. Such a move would be seen as a testament to its enduring bullish strength and may set the stage for further upward potential in the near future.
BNB technical price analysis Nov. 29
BNB recently demonstrated a resilient recovery, rebounding from the psychologically significant support level of 200 USD...