BTC/USD Climbs Above $52,000; Time to Resume Higher?
Bitcoin Price Prediction – December 27
The Bitcoin worth prediction reveals that BTC IS exhibiting constructive indicators and it’s more likely to speed up additional greater within the close to time period.
BTC/USD Long-term Trend: Bearish (Daily Chart)
Key ranges:
Resistance Levels: $55,000, $57,000, $59,000
Support Levels: $48,000, $46,000, $44,000
BTCUSD – Daily Chart
According to the each day chart, BTC/USD breaches $52,000 because the each day excessive beckons. The king coin is seen buying and selling properly above the 9-day and 21-day transferring averages at $51,534. More so, the Bitcoin worth is inside touching distance of forming a brand new all-time excessive above the higher boundary of the channel, which is kind of exceptional.
Bitcoin Price Prediction: Bitcoin (BTC) May Create Additional Bullish Candles
At the time of writing, the Bitcoin worth is buying and selling comfortably in direction of the higher boundary of the channel as the worth establishes a brand new bullish sign. With the look of issues, one may say that the long-term outlook is more likely to favor the bulls because the each day shut may produce a big bullish engulfing candle with eyes now set on the each day resistances at $55,000, $57,000, and $59,000 respectively.
Furthermore, any drop from the present degree may result in declines to the crucial assist under the 9-day and 21-day transferring averages. In case BTC drops and touches the low of $50,000 assist, then the coin can depend on the long-term assist ranges at $48,000, $46,000, and $44,000. Moreover, the technical indicator Relative Strength Index (14) is now transferring in direction of 60-level, suggesting extra bullish alerts.
BTC/USD Medium-term Trend: Ranging (4H Chart)
According to the 4-hour chart, the Bitcoin worth is seen buying and selling above the 9-day and 21-day transferring averages at $51,264. However, in the present day’s worth transfer occurs to be a powerful one because it climbs above the long-awaited resistance degree of $52,000 with a pointy upsurge. More so, BTC/USD is more likely to observe a bullish motion because the technical indicator Relative Strength Index (14) strikes above 60-level.
BTCUSD – 4 Hour Chart
However, BTC could take a downward transfer if the bulls did not push the worth greater and the coin could breach under the 9-day and 21-day transferring averages which may attain one other assist at $49,500 and under. Nevertheless, if the bulls discover a respectable resistance degree above $52,000, the coin could hit the resistance degree of $53,000 and above.
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