Main navigation

Bitcoin (BTC) Price Analysis for December 21

Wed, 12/21/2022 - 18:24
article image
Denys Serhiichuk
Has Bitcoin (BTC) gained enough momentum to make a push toward the $17,000 level?
Bitcoin (BTC) Price Analysis for December 21
Cover image via u.today

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News

Bulls seem to have run out of energy as its rally seemingly cannot last for two days in a row.

Top 10 coins

BTC/USD

Bitcoin (BTC) is feeling much better than other coins, rising by 0.18%.

BTC/USD

On the hourly chart, Bitcoin (BTC) is trading in the narrow range, accumulating power for the further move. The price has made a false breakout of the support at $16,778 and now is on the way to the resistance at $16,889.

Related
Bitcoin (BTC) Price Analysis for December 18

If buyers can hold the initiative, the correction may continue tomorrow.

BTC/USD

On the bigger time frame, the rate of Bitcoin (BTC) has bounced off the recently formed support level at $16,815. If the bar can close above it, traders have a chance of seeing a test of the $17,000 zone until the end of the week.

BTC/USD

From the mid-term point of view, the rate of Bitcoin (BTC) has not decided yet which way to go as the price remains in the channel. At the moment, one should pay attention to the zone of $17,000, the breakout of which may be the prerequisite for the return to the $18,000 mark.

Bitcoin is trading at $16,848 at press time.

article image
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 denys.serhiichuk@u.today.