Bitcoin Price Prediction: BTC/USD Consolidates Around $50,900
Bitcoin Price Prediction – December 25
The Bitcoin worth is presently transferring across the higher boundary of the channel after the king coin hits an intraday excessive of $51,171.
BTC/USD Long-term Trend: Ranging (Daily Chart)
Key ranges:
Resistance Levels: $55,000, $57,000, $59,000
Support Levels: $47,000, $45,000, $43,000
BTCUSD – Daily Chart
At the time of writing, BTC/USD is hovering across the $50,915 stage after touching the each day excessive of $51,171. Meanwhile, there was numerous sluggish motion out there as neither the bulls nor the bears need to maintain the value by the scruff of its neck.
Bitcoin Price Prediction: What Could Trigger Fresh Rally?
As the Bitcoin worth hovers across the higher boundary of the channel, the value want to shut above $51,000 to certainly point out an upside opening on the each day chart. Previously, the value vary between $50,000 and $51,000 acted as help. However, for BTC/USD to show bullishly, the bulls have to take it out decisively to show it into help as soon as once more after which push the coin above the channel to face the resistance stage of $55,000, $57,000, and $59,000.
Currently, the Bitcoin’s rise could possible give different altcoins a much-needed increase and in addition calm the cryptocurrencies market as properly. Therefore, for Bitcoin to be rejected at $51,000, the drop could result in a decline beneath the 9-day and 21-day transferring averages. Should in case the coin falls extra, it may depend on the long-term help ranges at $47,000, $45,000, and $43,000 because the Relative Strength Index (14) strikes in the identical course.
BTC/USD Medium-term Trend: Ranging (4H Chart)
Looking on the 4-hour chart, the Bitcoin worth is ranging and the coin could depreciate if the $50,500 stage is damaged. The 9-day MA is prone to cross beneath the 21-day MA, the Bitcoin worth could fall and will attain the vital help at $50,000, and beneath.
BTCUSD – 4 Hour Chart
However, if the bulls can maintain the present worth and push the coin again above the higher boundary of the channel, it may hit the potential resistance at $52,000, and above. Meanwhile, the technical indicator Relative Strength Index (14) is presently transferring sideways, making the market to be indecisive in the intervening time.
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