Bitcoin Price Prediction December 25

After the Bitcoin king coin reaches an intraday high price of $51,171, the Bitcoin price is currently hovering around the upper border of the channel.

BTC/USD Long-term Trend : Ranging (Daily chart)

These are the key levels

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

Support Levels: $47,000, $45,000, $43,000

After touching the daily high at $51,171, BTC/USD hovers around $50,915 at the time of writing. There has been little movement in the market, as neither the bulls or the bears want to keep the price down.

Bitcoin Price Prediction: What could trigger a fresh rally?

The Bitcoin price is hovering around the upper border of the channel. To indicate an upside opening on a daily chart, the price must close above $51,000. Support was previously provided by the range of $50,000 to $51,000. To make BTC/USD bullish, bulls must take it out decisively to make it support again, then push it above the channel to reach the resistance levels of $55,000, $57,000 and $59,000.

The rise of Bitcoin may give other altcoins a boost, and help calm the cryptocurrency market. Bitcoin could be rejected at $51,000. A drop below the 9-day or 21-day moving averages may result in a decrease. If the coin falls further, it can rely on long-term support levels of $47,000, $45,000 and $43,000, as the Relative Strength Index (14) moves the same way.

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

The 4-hour chart shows that the Bitcoin price fluctuates and may fall if it reaches the $50,500 mark. The 9-day MA will likely cross below the 21 day MA. If the 21-day MA is broken, the Bitcoin price could fall to $50,000 or below.

If the bulls are able to hold the current price and push it back above the channel's upper boundary, the coin could reach the potential resistance of $52,000 and beyond. The market is indecisive right now because the Relative Strength Indicator (14) is moving sideways.

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By: Azeez Mustapha
Title: Bitcoin Price Prediction: BTC/USD Consolidates Around $50,900
Sourced From: insidebitcoins.com/news/bitcoin-price-prediction-btc-usd-consolidates-around-50900
Published Date: Sat, 25 Dec 2021 21:03:26 +0000