BTC/USD May Drop Below $48,000
Bitcoin Price Prediction – December 22
The day by day chart reveals that the Bitcoin value prediction exhibits that restoration stalls below $49,000, leaving a spot for sellers to discover.
BTC/USD Long-term Trend: Bearish (Daily Chart)
Key ranges:
Resistance Levels: $54,000, $56,000, $58,000
Support Levels: $45,000, $43,000, $41,000
BTCUSD – Daily Chart
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Looking on the day by day chart, Bitcoin bears are prone to take again management as they’re seen forcing BTC/USD to bow all the way down to recent losses. At the time of writing, BTC/USD is altering arms at $48,908 after adjusting decrease from $49,595 which is an intraday excessive. However, the bearish comeback may additionally break beneath a brief time period pattern line help. In addition, BTC/USD stays susceptible to losses if it crosses beneath the 9-day and 21-day shifting averages on the day by day chart.
Bitcoin Price Prediction: Bitcoin (BTC) May be Vulnerable to Losses
Looking on the coin from a technical angle, one can say that stability is prone to take over amid indicators of consolidation. For instance, the technical indicator Relative Strength Index (14) confirms that the market is prone to observe sideways motion. In spite of the doable sideways motion within the present session, the Bitcoin value remains to be below nice threat of dropping to ranges near $45,000.
Nonetheless, the bulls are banking on the help at $47,000 and $46,000 to make sure that regardless of a reversal, the Bitcoin value stays above $48,000 stage. Any additional motion beneath $46,000 could push the coin in direction of the essential helps of $45,000, $43,000, and $41,000. Meanwhile, following the upward motion could enable the worth to hit the closest resistance ranges at $54,000, $56,000, and $58,000 respectively.
BTC/USD Medium – Term Trend: Ranging (4H Chart)
BTC/USD is seen shifting across the 9-day shifting common because the 4-hour chart reveals, the king coin is at present observe the sideways motion. However, the help stage of $48,000 and beneath could come into play if the coin focuses on the downward motion.
BTCUSD – 4 Hour Chart
Moreover, the bulls could have to regroup and maintain the present market worth of $48,979, as soon as that is carried out, merchants could count on a retest at $49,000 resistance stage and breaking this stage could additional take BTC/USD to the resistance stage of $50,000 and above. The technical indicator Relative Strength Index (14) is shifting in the identical path above 60-level, suggesting a sideways motion.
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