Bitcoin Breaking This Next Resistance Will Signal Game Over for BTC Bears: Experts Agree on Breakout Price Target
According to crypto trader Mister Crypto, if Bitcoin closes above $38,000, it will be “game over for all $BTC bears.” This key resistance level has held for the past month, but increasing signs point to a breakthrough as Bitcoin continues its recovery.
Cryptocurrency analyst amna786 provided an in-depth technical analysis, explaining that buyers continue to push towards $38,000. “While we haven’t seen a confident consolidation above this level yet, the MACD crossover along with increasing volumes indicate the ongoing dominance of buyers,” she wrote.
Amna further explained that for now, Bitcoin remains within a growing parallel channel. The priority scenario is for Bitcoin to consolidate above the key resistance zone between $38,000-$38,750 before forming a broader upside impulse above it. “Most indicators suggest the development of such a scenario. So, in the near future, I expect a breakthrough of resistance and a continuation of the movement towards $40,000,” she concluded.
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Traders Agree on Likely Breakout
The analysis from Mister Crypto and amna point to a likely breakout as Bitcoin tests the critical resistance around $38,000. Other traders also chimed in with similar opinions. Emerlyn Bequio simply stated that with Bitcoin hitting $38k recently, “I think we will see $40k soon.”
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Next Price Target if Resistance Breaks
If Bitcoin can confidently close above $38,000 and consolidate, experts widely agree the next target is $40,000. Amna specifically called for “a continuation of the movement towards $40,000” if Bitcoin breaks above the channel its trading in. With key resistance showing signs of breaking down, Bitcoin may soon be on its way back to $40k if it can hold these gains.
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