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Bitcoin (BTC) Price Analysis for December 15

Thu, 12/15/2022 - 19:30
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Denys Serhiichuk
Are bulls out of energy for further rise?
Bitcoin (BTC) Price Analysis for December 15
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The cryptocurrency is again under bears' pressure, according to the CoinMarketCap ranking.

Top 10 coins by CoinMarketCap


The rate of Bitcoin (BTC) has declined by almost 1% since yesterday.

BTC/USD chart by TradingView

On the hourly chart, the rate has broken the local support level at $17,572. If buyers cannot seize the initiative until the end of the day, the decline to the $17,100 zone can happen tomorrow.

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Thus, the selling volume is high, which means that sellers are not going to give up.

BTC/USD chart by TradingView

On the bigger time frame, the price of Bitcoin (BTC) started the fall after the false breakout of the resistance at $18,106. At the moment, one should pay attention to the support at $17,418. If the bar closes below it, the decrease may lead to the test of the zone around $17,000.

BTC/USD chart by TradingView

Analyzing the weekly chart, the price has tested the mirror level at $18,157. Until the rate is below $18,000, bears remain more powerful than bulls. In addition, the volume remains low, confirming buyers' weakness.

Bitcoin is trading at $17,467 at press time.

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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at