Bitcoin Price Prediction – December 12
The BTC/USD price valuation has witnessed a recording that the crypto-economic market struggles, swinging at $50,000. The market estimated a percentage rate of about 0.24 positive. Price is trading around $49,660 on an average basis.
Resistance levels: $52,500, $55,000, $57,500
Support levels: $45,000, $42,500, $40,000
BTC/USD – Daily Chart
The BTC/USD daily chart showcases the crypto-economic market struggles, swinging at $50,000 sequence to a bullish candlestick that emerged from a lower zone during yesterday’s trading operation The current trading situation features in the bearish channel trend lines drew beneath the SMAs’ trend lines. The 14-day SMA indicator has joined the 50-day SMA indicator from the top side a bit beneath $55,000. The Stochastic Oscillators are somewhat consolidating around the range of 20. That suggests that a line of smaller-ups and smaller-downs may concurrently occur around a well-notable psychological trading point.
Will the BTC/USD price valuation survive surging northward at $50,000 as the market struggles, swinging around it?
It is not easy to project a long-surviving trading condition for the BTC/USD trade activities presently as the market struggles, swinging at $50,000. More powerful volatility needed to add to some of the movements ever been occurring in the crypto-economic trading operations for about a few days; sessions. However, in the meantime, some buying intrigues have taken place around the lower bearish channel trend line before the support level at $45,000 recently.
On the downside of the technical analysis, the BTC/USD market level at $50,000 would presently have to retard by the actions of short-position takers in the crypto-economic business operations to prevent the possibility of price embarking upon an effort to breach an overhead resistance trading level at $52,500 afterward. But, in the event of a forceful northward breakout, tending to occur against those points mentioned earlier, shorting orders have to hold on until a while.
BTC/USD 4-hour Chart
The BTC/USD medium-term chart reveals that the market struggles, swinging at $50,000 over a couple of sessions. There have been featuring of variant Japanese trading candlesticks around a higher notable resistance spot also vital support trading level in the medium-term run of this market. The 14-day SMA indicator is underneath the 50-day SMA indicator. The Stochastic Oscillators are in the oversold region with the lines closed. That signifies that the US economy may still attempt pushes against BTC’s market valuation around or beneath the resistance trading level at $52,500 afterward.
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