Bitcoin Price Prediction: BTC/USD Trades below $19,350; Bulls May Have to Wait a Bit ByAzeez MustaphaPRO INVESTOR Updated: 06 December 2020 DisclosureWe sometimes use affiliate links in our content, when clicking on those we might receive a commission – at no extra cost to you. By using this website you agree to our terms and conditions and privacy policy. Join Our Telegram channel to stay up to date on breaking news coverage Bitcoin (BTC) Price Prediction – December 6 The Bitcoin (BTC) is recovering from the recent low on approach to $18,800 but bulls may have trouble taking the market price above $19,500. BTC/USD Long-term Trend: Bullish (Daily Chart) Key levels: Resistance Levels: $20,800, $21,000, $21,200 Support Levels: $17,800, $17,600, $17,400 BTCUSD – Daily Chart After touching the daily low at $19,878, BTC/USD resumes the upside trend during early Asian hours. At the time of writing, the first digital asset is changing hands at $19,145 and the upside momentum is gaining traction. However, a sustainable move above $19,500 will bring $19,900 back into focus and improve the technical picture. What to Expect from BTC? According to the daily chart, BTC/USD is moving above the 9-day and 21-day moving averages. This barrier creates the first line of support that may slow down the correction. However, BTC/USD may retest $18,500 before another attempt at $18,300 but if $18,800 is broken, a further low drive could send the price to $17,800, $17,600, and $17,400 supports Moreover, if the coin continues to hovers above the moving averages, traders may see a bull-run to $20,500 vital resistance. Presently, bulls are dominating the market and the Bitcoin price may continue to follow the upward trend in as much as the red-line of 9-day MA is above the green-line of 21-day MA and the potential resistance levels are located at $20,800, $21,000, and $21,200 while the technical indicator keeps moving above the 60-level. BTC/USD Medium-Term Trend: Ranging (4H Chart) On the 4-Hour chart, BTC price hovers around $19,189 and may take time to persistently trade above $19,500. More so, if the bulls gather enough strength and regroup, the upward movement may be able to near the $19,800 and $20,000 resistance level. BTCUSD – 4 Hour Chart However, on the downside, immediate support is around the $18,800 level while the main support is at the $18,600 level. The price may likely fall below $18,500 if the bears step back into the market, a further movement could test the critical support at the $18,300 level. Technically, Bitcoin is currently moving in sideways while the RSI (14) moves above the 50-level, indicating an indecisive in the market movement. Join Our Telegram channel to stay up to date on breaking news coverage