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Bitcoin Price Prediction: BTC/USD Gets Closer to Clear $19.5k-$20k Resistance Zones, Larger Uptrend Likely

Bitcoin (BTC) Price Prediction – December 13, 2020
BTC/USD has broken through crucial resistance levels as the coin reached a high of $19,400. The bulls broke the $18,600 and $18,800. This current move is to clear the next resistance zones from $19,400 to $19,600.

Resistance Levels: $13,000, $14,000, $15,000
Support Levels: $7,000, $6,000, $5,000

BTC/USD – Daily Chart

The current upside momentum was made possible because the $18,500 and $18,600 support levels were well defended by the bulls. The support levels were the basis for the current upside momentum. Buyers have again pushed the price to reach the $19,500 to $20,000 overhead resistance zone. On the upside, if the bulls can clear this next resistance, larger up trending is in  sight. In other words, Bitcoin will witness another round of rally. Conversely, if the bulls fail to sustain the current bullish momentum, sellers will attempt to push the price downward and break the critical support level at $18,500. Such a move will push the price further to the $16,000 price level.

Jim Cramer Buys Bitcoin While off Nicely from the Top in $17,000
The outspoken host of CNBC’s Mad Money is claiming he made a well-timed Bitcoin investment on Friday. During an interview with “The Street”, Jim Cramer says he purchased Bitcoin on Friday morning when the price has gone below $18,000. The Mad Money host added he was treating the crypto asset like any other investment portfolio.

He further declared in the manner: “I will buy — like I usually do — as something comes down,” said Cramer. “I’ll get bigger and bigger and bigger. I just think that you want to diversify into all sorts of asset classes. I have gold. I’m going to diversify into some Bitcoin — not a big position for me — but it’s certainly important to be diversified, and Bitcoin is an asset and I want to have a balance of assets.”

BTC/USD – 4 Hour Chart

Meanwhile, Bitcoin is approaching the $19,500 to $20,000 resistance zone. The Fibonacci tool has indicated an upward movement of the coin. The Fibonacci analysis will hold if the next resistance above $19,500 is cleared. . On December 1, a retraced candle body has tested the 61.8% Fibonacci retracement level. The retracement indicates that Bitcoin will rise and reach level 1.618 Fibonacci extensions or the high $22,248.0.

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      Azeez Mustapha is a technical analyst with many years trading experience in the stock exchange and crypto markets. He has broad experience in forex trading, coaching, and funds management.