Bitcoin Price Trapped Below $38K - Breakout Could Spark Rally to $45K
• Bitcoin's price has been trading in a range below $38,000 for 3 weeks, forming an ascending triangle pattern which typically breaks out to the upside.
• Despite failure to break above $38,000 resistance, pullbacks have been shallow, reflecting persistent buy-the-dip demand.
• A break above $38,000 resistance could allow bitcoin to target the $40,000-$45,000 area according to analysts.
• Bitcoin has historically averaged 12% gains in December, a seasonal trend that may lift prices towards $42,000.
• The ascending triangle is building bullish momentum that could fuel bitcoin's next leg higher if resistance at $38,000 is overcome.