Bitcoin Price Targets Upside Momentum
Bitcoin's price is currently in an upward trend, starting in November 2022. The asset has surged from $15,700 to its local high of $37,991 on November 15, 2023. BTC may encounter resistance around the psychological level of $40,000 in its ongoing bullish trend.
The Exponential Moving Averages (EMA) at 10, 50, and 200 days stand at $36,918, $33,848, and $29,590, respectively, potentially serving as support levels for the asset's pullback. In case of a downturn, Bitcoin's price could retreat to the 38.2% Fibonacci retracement level at $35,861, measured from the high of $69,121 in November 2021 to the local low of $15,396 in November 2022.
The Exponential Moving Averages (EMA) at 10, 50, and 200 days stand at $36,918, $33,848, and $29,590, respectively, potentially serving as support levels for the asset's pullback. In case of a downturn, Bitcoin's price could retreat to the 38.2% Fibonacci retracement level at $35,861, measured from the high of $69,121 in November 2021 to the local low of $15,396 in November 2022.
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