Search Inside Bitcoins

Bitcoin Price Prediction: BTC/USD May Retrace Above $51,000

Bitcoin Price Prediction
Bitcoin Price Prediction

Join Our Telegram channel to stay up to date on breaking news coverage

Bitcoin Price Prediction – December 25

The Bitcoin price prediction rebounds from the early dip at $50,191.84 as the buying interest may increase on approach to $52,000.

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

Key levels:

Resistance Levels: $55,000, $57,000, $59,000

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

Bitcoin Price Prediction
BTCUSD – Daily Chart

BTC/USD is ranging as the market establishes a higher low around $50,920 but currently rebounding to retest previous resistance at $51,000. The bulls may continue to find some resistance levels around the upper boundary of the channel on the road to recovery and the path of least resistance appears to the upside in the near term amid a favorable bullish technical setup.

Bitcoin Price Prediction: BTC Price Could Spike Higher

In the past few hours, after the Bitcoin price touches the daily low of $46,537, the king coin has been facing the resistance level of $50,000 and looking forward to reclaiming the resistance level of $51,000. However, the daily chart reveals that if the 9-day moving average crosses above the 21-day moving average, this will confirm the next direction that the coin will follow. In other words, BTC/USD may decline if the $50,000 support breaks down but the price could rise if the $51,000 resistance is reached.

Meanwhile, the technical indicator Relative Strength Index (14) is likely to cross above 50-level, indicating a bullish movement. Therefore, if the Bitcoin price crosses above the channel, it could hit the resistance levels of $55,000, $57,000, and $59,000 but any movement below the 9-day and 21-day MAs could hit the supports at $47,000, $45,000, and $43,000.

Tamadoge OKX

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

According to the 4-hour chart, the Bitcoin price is seen rebounding as the technical indicator Relative Strength Index moves to cross into the overbought region. On the upside, if the Bitcoin price stays above the 9-day and 21-day moving averages in the short term, bullish influence could spike and the accrued gains massively.

BTCUSD – 4 Hour Chart

However, the current candle could fail to cross above the upper boundary of the channel and the critical support level remains at $49,000 and below but the best the bulls can do is to hold above the resistance level of $51,000 and keep their attention on breaking the potential resistance at $53,000 and above.

Looking to buy or trade Bitcoin (BTC) now? Invest at eToro!

68% of retail investor accounts lose money when trading CFDs with this provider

Read more:

Join Our Telegram channel to stay up to date on breaking news coverage

Read next

X

Tamadoge - 'Play to Earn Dogecoin' With 10-50x Potential

Tamadoge - 'Play to Earn Dogecoin' With 10-50x Potential

Tamadoge - 'Play to Earn Dogecoin' With 10-50x Potential

X