Bitcoin Price Predictions - December 21

BTC's price prediction for Bitcoin shows that it is trading well above $48,000, as it still needs to rise above $49,000 resistance in order to continue higher.

BTC/USD Long-term Trend Bearish (Daily chart)

These are the key levels

Resistance Levels: $55,000 to $57,000 and $59,000 respectively

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

BTC/USD starts the day with a strong recovery, touching the daily high at $49,339 in early hours today. BTC/USD could continue to rise as bulls may move it from the downside to the upside. If buyers rally, BTC/USD could move to the resistance level at $70,000 in the coming days.

Bitcoin Price Prediction: Bitcoin price prediction: Bitcoin (BTC), warming up for the upside

Bitcoin prices are seen above critical levels, which could serve as support zones in case of a reversal. After crossing above the 9 day moving average, the king coin is trying to move above the 21-day average. On the upside, the coin is moving toward the upside and there are few obstacles to correction targeting the key resistance at $50,000, as technical indicator Relative Strength (14) moves above 40-level.

However, Bitcoin prices could fall below the 9-day moving mean. If this barrier fails, traders may experience a further drop to $42,000, $40,000 and critical $38,000. The potential resistance levels are at $55,000 and $57,000 respectively.

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

The 4-hour chart shows that the Bitcoin price is trading at $48,755 and is above the 9-day & 21-day moving averages. Traders can also see that the bullish supply continues to grow slowly, while the bears try to lower the price.

If buyers can energize and strengthen the market, they could push the price higher to $50,000. Breaking the resistance mentioned could allow bulls to test the resistance of $51,000 or higher. The Relative Strength Index (14) is at 60. Any bearish movement could welcome sellers back to the market, which could push the price below the support level $47,500.

-------------------------------------

By: Azeez Mustapha
Title: Bitcoin Price Prediction: BTC/USD Hovers Around $48,912; Price May Spike Higher
Sourced From: insidebitcoins.com/news/bitcoin-price-prediction-btc-usd-hovers-around-48912-price-may-spike-higher
Published Date: Tue, 21 Dec 2021 15:42:51 +0000