Bitcoin Price Prediction for Today, December 27: BTC/USD Keeps Fighting Near $17,000 Level

The Bitcoin price prediction shows that BTC is still attempting an upside break above $17,000 as the king coin touches the $16,967 level.

Bitcoin Prediction Statistics Data:

  • Bitcoin price now – $16,842
  • Bitcoin market cap – $324.5 billion
  • Bitcoin circulating supply – 19.2 million
  • Bitcoin total supply – 19.2 million
  • Bitcoin Coinmarketcap ranking – #1

BTC/USD Long-term Trend: Ranging (Daily Chart)

Key levels:

Resistance Levels: $21,000, $23,000, $25,000

Support Levels: $14,000, $12,000, $10,000

BTC/USD range-bounds with the selling pressure seen around the $16,829 level which is stopping it from seeing any major gains. BTC could gain bullish momentum if there is a daily close above the $17,000 and $17,200 resistance levels. Meanwhile, traders are not surprised by the selling pressure as bears are trying to defend against a break above the 9-day and 21-day moving averages. However, until bulls keep the price above this barrier, the Bitcoin price may continue to face a prolonged sideways movement or drop below the current market value.

Bitcoin Price Prediction: Bitcoin May Revisit the Downtrends

The Bitcoin price may likely slide below the 9-day and 21-day moving averages as the daily chart shows; but, a further retracement seems imminent and it is likely to break below $16,500. Meanwhile, $14,000, $12,000, and $10,000 serve as the major support levels, should in case BTC wants to fall further. The technical indicator Relative Strength Index (14) is hovering below the 50-level, suggesting bearish movement.

However, as the daily chart reveals, if the bulls could push the price back above the daily high at $16,967, BTC/USD could see a potential resistance level at $17,000, and any bullish cross above the upper boundary of the channel could send it to the potential resistance levels at $21,000, $23,000, and $25,000 respectively.

BTC/USD Medium-term Trend: Ranging (4H Chart)

Looking at the 4-hour chart, the bears are likely to come back into the market as the Bitcoin price moves within the 9-day and 21-day moving averages. The bulls failed to hold the Bitcoin price above the moving averages. Meanwhile, if BTC/USD breaks above this barrier, the resistance level of $17,700 and above may come into play.

BTCUSD – 4-Hour Chart

However, if the price breaks to the south and faces the lower boundary of the channel, the support level of $16,200 and below may be in focus. Nonetheless, as the Relative Strength Index (14) moves to cross below the 50-level, more bearish signals may play out before a rebound could emanate.

Dash 2 Trade gives you the ability to optimize your trading and speculative profitability with effective crypto trading recommendations, auto trading, and analytics Features. There is a D2T token presale ongoing and time is running out. The presale dashboard launch is coming soon since the product dev is ahead of the schedule. So far, the presale has raised almost $11 million.

Related

  • D2T Price Prediction
  • How to Buy D2T

Comments

Post a Comment

Popular posts from this blog

Aave community proposes suspending Fantom-based integration

Image
The past month has seen a series of hacks in the crypto sector. The latest hack was on hardware wallets, where 15,000 Solana wallets were affected, resulting in a loss of around $4.6 million. Aave proposal removes Fantom integration One of the most persistent hacks in the crypto space is on DeFi bridges. Bridges are an essential infrastructure that allows users to transfer funds between blockchains. For example, the native assets on one network like Avalanche can exist on another like Harmony without needing a bridge. Given this large amount of money stolen from these blockchain bridges, one DeFi protocol is taking steps to lower the risks from the sector. A recent proposal on the Aave protocol suggested that the community suspends all Fantom-based integration. Buy Aave Now Your capital is at risk. The proposal from the Aave community says that halting Fantom integration would protect users by suspending the ability to deposit and borrow assets through the Aave V3 market...
Read more

Canadian crypto traders will have a harder time using leveraged bets

Image
Join Our Telegram channel to stay up to date on breaking news coverage Canadian umbrella financial regulator, the CSA (Canadian Securities Administrators) recently decided to create a new set of rules for crypto exchanges operating in the country, according to two unnamed sources familiar with the matter. Among the new changes is apparently the rule that all crypto trading platforms that wish to operate in the country must be registered, and everyone seeking registration must sign undertakings to comply with investor protections. The CSA (Canadian Securities Administrators) declined to reveal any details, saying it would do so "in the near future.” — DustyBC Crypto (@TheDustyBC) February 17, 2023 However, this is not the end of it, as the rules will also severely affect retail investors who wish to trade crypto currencies using leveraged bets. The CSA plan is to increase its oversight of crypto exchanges that operate in Canada. This will mean tighter rules whi...
Read more

Astar launches NFT campaign to celebrate mainnet launch

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. Astar Network, a Polkadot parachain, has announced an NFT campaign to celebrate the mainnet release of Astar zkEVM, an Ethereum layer-2 chain powered by Polygon technology. Astar’s NFT campaign The Astar Network’s NFT campaign, scheduled for Q1 2024, aims to celebrate the launch of the Astar zkEVM mainnet, which was built utilizing the Polygon Chain Development Kit (CDK). The campaign draws inspiration from Astar Network’s Japanese roots by using the popular Japanese capsule machines and mechanisms to award random prizes. You might also like: Astar Network launches zKatana layer-2 scaling solution on public testnet To participate in this campaign , users are encouraged to explore the projects available on Astar zkEVM. The platform offers on-chain and off-chain quests, which users can complete to earn re...
Read more