BTC/USD Hovers Around $48,912; Price May Spike Higher


Bitcoin Price Prediction – December 21

The Bitcoin worth prediction reveals that BTC is buying and selling properly above the $48,000 because it must climb above the $49,000 resistance to proceed increased.

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

Key ranges:

Resistance Levels: $55,000, $57,000, $59,000

Support Levels: $42,000, $40,000, $38,000

BTCUSD – Daily Chart

BTC/USD begins the day with a very good restoration because the coin touches the day by day excessive of $49,339 within the early hours of at this time. BTC/USD could proceed to enhance because the bulls may transfer it out of the draw back to the upside. However, inside the subsequent few days for the 12 months to runs out, BTC/USD could transfer to hit the resistance degree of $70,000 if the consumers regroup.

Bitcoin Price Prediction: Bitcoin (BTC) Warming Up for the upside

The Bitcoin worth is seen shifting above the essential ranges which may operate because the assist zones within the occasion a reversal happens. The king coin is attempting to cross above the 21-day shifting common after crossing above the 9-day shifting common. Meanwhile, on the upside, because the coin strikes towards the upside, little is in place to stop correction concentrating on the important thing resistance of $50,000 because the technical indicator Relative Strength index (14) strikes above 40-level.

Nevertheless, if the market decides to go down, the Bitcoin worth could drop beneath the 9-day shifting common and will this barrier fails to comprise the sell-off; merchants may even see an additional drop to the helps at $42,000, $40,000, and critically $38,000. However, the potential resistance ranges are situated at $55,000, $57,000, and $59,000 respectively.

BTC/USD Medium – Term Trend: Ranging (4H Chart)

Looking on the 4-hour chart, the Bitcoin worth is presently buying and selling round $48,755 and above the 9-day and 21-day shifting averages. Meanwhile, merchants can see that the bullish provide is arising slowly available in the market whereas the bears are additionally making an attempt to tug the worth down.

BTCUSD – 4 Hour Chart

However, if the consumers may strengthen and energize the market, they’ll additional push the worth to a $50,000 resistance degree. Therefore, breaking the talked about resistance may additionally enable the bulls to check the resistance degree of $51,000 and above. Meanwhile, the Relative Strength Index (14) is presently above 60-level, any bearish motion could welcome the sellers again into the market which may drag the worth to the assist degree of $47,500 and beneath.

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