Bitcoin Price Prediction: BTC/USD Stabilizes Above $51,000
Bitcoin Price Prediction – December 24
The Bitcoin value prediction reveals that BTC is working onerous to nurture a bullish pattern from the help at $50,445.
BTC/USD Long-term Trend: Bearish (Daily Chart)
Resistance Levels: $55,000, $57,000, $59,000
Support Levels: $47,000, $45,000, $43,000
BTC/USD is at the moment buying and selling 0.75% greater on the day. BTC/USD opens the session at $50,842 and now adjusting upwards to the prevailing market worth of $51,221. However, the present situations indicate that the worth could stay above the 9-day and 21-day transferring averages. Meanwhile, the technical indicator Relative Strength index (14) could proceed to comply with the upward pattern.
Bitcoin Price Prediction: BTC Price May Break More Upsides
At the time of writing, the Bitcoin value is at the moment hovering at $51,221. Meanwhile, wanting on the market motion, there’s probably that the market could expertise a fast retracement or sell-off simply after touching the essential $52,000, and merchants might even see $50,000 being examined once more earlier than pushing greater.
On the draw back, if the market decides to fall, the worth of Bitcoin might fall under the 9-day and 21-day transferring averages, and if that help fails to carry the sell-off, merchants might see an extra decline in direction of the help ranges of $47,000, $45,000, and critically $43,000. All the identical, any additional bullish motion above the higher boundary of the channel could hit the resistance ranges at $55,000, $57,000, and $59,000.
BTC/USD Medium – Term Trend: Ranging (4H Chart)
On the 4-hour chart, we anticipate the coin to realize the misplaced momentum and hit the commerce above $51,000. However, the volatility hovers, and the promoting stress nonetheless exists which might deliver the coin under the 9-day and 21-day transferring averages. Meanwhile, the $50,000 and under could come into play if BTC face the south.
However, if the patrons can reinforce and energy the market, merchants can anticipate a cross above the higher boundary of the channel, breaking this barrier could permit the bulls to succeed in the resistance stage of $52,500 and above. Meanwhile, the technical indicator Relative Strength Index (14) is seen transferring throughout the overbought area, suggesting sideways motion.
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