Bitcoin (BTC) broke above the overhead resistance of $38,000 on Nov. 24, indicating that the sentiment is positive and bulls have kept up the pressure. Independent Reserve CEO Adrian Przelozny told Cointelegraph that the “next two years are going to be good,” and market activity is likely to pick up in early 2024.

The major catalysts for next year is the Bitcoin halving in April and applications for a spot Bitcoin exchange-traded fund, some of which have a deadline for a decision in January. With two main events on the horizon, Bitcoin is likely to find buyers on dips.

Analysts expect a retracement from $40,000 in the near term. That could be one of the reasons why Cathie Wood’s investment firm, ARK Invest, has been gradually selling into strength. The firm sold about 700,000 shares of the Grayscale Bitcoin Trust (GBTC) over the past month, but it is worth noting that ARK still holds more than 4.3 million GBTC shares.

Could crypto traders bulldoze their way through the overhead resistance levels in Bitcoin and major altcoins? What are the important levels to watch out for?

Let’s analyze the charts of the top 10 cryptocurrencies to find out.

Bitcoin price analysis

Bitcoi

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Author: Rakesh Upadhyay

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