Bitcoin (BTC) Bulls Should Keep Eye on This Price Level

Bitcoin

BTCUSD

sparked a new frenzy lately after briefly surging past the $40,000 resistance level for the first time since April 2022, and it is the obvious highest level for 2023. With this trend, getting carried away with FOMO — Fear of Missing Out — is likely, and top market analyst Ali Martinez has shared two key Bitcoin levels to keep an eye on.

At the time of writing, BTC is worth $41,511.85, up 5.11% in the past 24 hours, atop a 102% jump in trading volume to $32,083,399,386.

According to Martinez's chart, the next most important price Bitcoin will likely breach is $47,360. While Bitcoin's current outlook suggests retesting this price level is possible in the mid- to long term, the analysts named the $37,000 price zone as the next crucial support zone to watch.

#Bitcoin | The most important resistance area for $BTC is at $47,360, while $37,000 has now become a significant support zone! pic.twitter.com/0OpN2ZMo9e— Ali (@ali_charts) December 4, 2023 #BinanceTournament #ORDI #tia #BTC #Airdrop