Is Bitcoin (BTC) Ready to Rally and Click Another Yearly High?

• An analyst posted that Bitcoin’s uptick may not be over for the year, predicting another uptrend.
• BTC attempted to cross $38,000 but was rejected at $37,917.
• If buying pressure increases as it has in the last 24 hours, BTC may hit $40,000.

Crypto analyst Michaël van de Poppe, in a post shared on X, noted that Bitcoin (BTC) could soon hit another high. From the chart he shared, the analyst revealed that BTC may climb above $38,126 anytime from now on.

Actually, new highs are closer than we think on #Bitcoin.

Buy the dips. pic.twitter.com/h7FMO1bVrF

— Michaël van de Poppe (@CryptoMichNL) November 15, 2023

With a Year-To-Date (YTD) performance spanning a 125.57% increase, BTC jumped another 5.21% in the last 24 hours. However, van de Poppe’s post also showed that the uptick could result in a decline in the $36,000 direction. 

At the time of writing, BTC was changing hands at $37,501. The hike in BTC’s value could be linked to the opportunity buyers may have spotted on the BTC/USD chart. 

Up Only for Bitcoin?

A look at the Relative Strength Index (RSI) showed that the value dropp…

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