Bitcoin Price Prediction December 30

The Bitcoin price prediction currently shows that BTC is above the resistance level at $47,000.

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

These are the key levels

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

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

After adjusting from $45,975 as the short-term support, BTC/USD is now slightly in the red. The Bitcoin price fell below the resistance level at $52,100 a few days ago. The first digital asset is moving towards the 9-day & 21-day moving averages at the time of writing. However, buyers are keeping their eyes peeled for the $48,000 first hurdle as the coin creates a new trend.

Bitcoin Price Prediction: Can Bitcoin Price Reach $50,000 Resistance?

Can traders really claim that the Bitcoin price is now in the hands of bulls? Relative strength index (14) moves above 40-level. If the indicator continues to move in an upward direction, the price may push towards $48,000 resistance. The gap between the 9-day and 21-day moving mean that there may be an upward trend.

BTC/USD could settle in a narrow range of $45,000 on the downside, and $48,000 on its upside. If the market price moves above the moving averages, then BTC/USD could hit potential resistance levels of $52,000, $54,000 and $56,000. Supports are located towards lower boundaries at $42,000 and $40,000 respectively.

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

The 4-hour chart shows that BTC/USD is trending sideways around the moving average and 9-day moving average. The coin could lose its $47,000 support if it is broken once more. This could cause Bitcoin prices to drop below the channel's lower boundary, which could lead to it falling below $47,000 or below.

However, if bulls rally and keep the current price low, BTC/USD could cross the 21-day moving mean to reach the potential resistance level of $49,000. The technical indicator Relative Strength Index (14) will move to cross below 40-level which would likely push the coin down.

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By: Azeez Mustapha
Title: Bitcoin Price Prediction: BTC/USD Stays Above $47,000 Level
Sourced From: insidebitcoins.com/news/bitcoin-price-prediction-btc-usd-rebounds-above-47000-level-2
Published Date: Thu, 30 Dec 2021 16:06:35 +0000