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Bitcoin (BTC) Price Analysis for December 21

Wed, 12/21/2022 - 18:24
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Denys Serhiichuk
Has Bitcoin (BTC) gained enough momentum to make a push toward the $17,000 level?
Bitcoin (BTC) Price Analysis for December 21
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Bulls seem to have run out of energy as its rally seemingly cannot last for two days in a row.

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


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.

Bitcoin (BTC) Price Analysis for December 18

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


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.


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.

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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