Bitcoin Price Attempts to Break $45,000 Mark
The Bitcoin (BTC) price is currently making an attempt to retest or break through the $45,000 mark, according to the latest analysis of cryptocurrency price.
Bitcoin Price Long Term Prediction: Bullish
Bitcoin (BTC) has maintained its positive trend zone above the 21-day SMA support. This means that the largest cryptocurrency has stayed above the psychological price threshold of $40,000 but hasn’t been able to surpass the high of $45,000. At present, Bitcoin’s value is at $42,951.
Analysts believe that once the current resistance is broken, Bitcoin will rise to a high of $48,000. On December 11, the bears tested the psychological price barrier of $40,000, but the bulls bought the dips. If buyers fail to keep the price above the recent high, Bitcoin will continue to fluctuate between $40,200 and $45,000.
Bitcoin Indicator Reading
As long as the price bars on the 4-hour chart remain between the moving average lines, Bitcoin will stay in a trading range. The bulls have maintained the current trend by keeping the price bars above the moving average lines. BTC price is still above the 21-day simple moving average.
Technical Indicators:
Key resistance levels – $35,000 and $40,000
Key support levels – $30,000 and $25,000
What is Next for BTC/USD?
Since December 5th, Bitcoin’s price has remained steady between $40,200 and $45,000. As it approaches its recent high, the cryptocurrency’s price is rising. Bitcoin will continue to trade within this limited range until it moves above the range level.
It was reported on December 8th that Bitcoin was rejected at a high of $44,699 after failing to break above the $45,000 mark.
Hot Take: Bitcoin Price Attempts to Break Resistance Level
The Bitcoin (BTC) price is currently trying to surpass the resistance level at $45,000. Analysts predict that if this resistance is broken, the price could rise to $48,000. However, if buyers fail to keep the price above the recent high, Bitcoin will continue to trade within its current range of $40,200 and $45,000. The technical indicators show key support levels at $30,000 and $25,000. Overall, the long-term prediction for Bitcoin remains bullish.
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