BTC/USD Gets Ready to Break Above $48,000


Bitcoin Price Prediction – December 19

The Bitcoin value prediction exhibits that BTC is on the point of break above $48,000 whereas the king coin continues to benefit from the latest sharp uptrend.

BTC/USD Long-term Trend: Bearish (Daily Chart)

Key ranges:

Resistance Levels: $52,000, $54,000, $56,000

Support Levels: $43,000, $41,000, $39,000

BTCUSD – Daily Chart

BTC/USD bulls are prone to break above the resistance degree of $48,000; a transfer that may pave the way in which for positive factors above $50,000 nevertheless it’s unclear for the time being how lengthy the crypto can maintain this development up. Moreover, the coin is presently settling above $47,000 whereas the additional restoration is restricted by the native resistance of $46,000. However, the latest dip that occurred prior to now was truly useful for Bitcoin because the technical indicator Relative Strength Index (14) strikes to cross above 40-level.

Bitcoin Price Prediction: Would Bitcoin Begin to maneuver Up?

The Bitcoin value continues to make an try in breaking above the 9-day and 21-day transferring averages. However, wanting on the each day chart, the bulls are prone to set up the next excessive and solely have to climb above $48,000 to substantiate a each day uptrend. At the time of writing, the newest development might be within the favor of the bulls and if the scenario stays unchanged, the Bitcoin value could proceed to maneuver to the north.

Moreover, if the coin breaks above the transferring averages, there’s a probability {that a} new path to $52,000, $54,000, and $56,000 resistance ranges could also be created. For now, all the eye ought to go in the direction of overcoming the hurdle at $48,000 and defending help at $46,000. Meanwhile, going beneath $45,000 could doubtless search helps at $43,000, $41,000, and $39,000 respectively.

BTC/USD Medium-Term Trend: Bearish (4H Chart)

On the 4-hour chart, there are a number of essential technical obstacles beneath and above the present value on the $47,250 degree. This implies that BTC/USD could spend sufficient time consolidating positive factors on the present ranges because the technical indicator, the Relative Strength Index (14) strikes sideways.

BTCUSD – 4 Hour Chart

Meanwhile, in the long term, the development stays range-bounding so long as the worth is above $47,000. The potential resistance degree is positioned at $49,000 and above whereas the closest help is below the 9-day and 21-day transferring averages at $46,000 and beneath.

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