BTC/USD Stays Above $47,000 Level

Bitcoin Price Prediction – December 30

The Bitcoin price prediction is currently showing that BTC is moving above the resistance level of $47,000.

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

Key levels:

Resistance Levels: $52,000, $54,000, $56,000

Support Levels: $42,000, $40,000, $38,000

BTC/USD is slightly in the green after adjusting from the short-term support at $45,975. A few days ago, the Bitcoin price was rejected after touching the resistance level of $52,100. At the time of writing, the first digital asset is currently moving towards the 9-day and 21-day moving averages but the buyers have their eyes on the first key hurdle at $48,000 as the coin begins to create a new trend.

Bitcoin Price Prediction: Can BTC Price Touch $50,000 Resistance?

Looking at the daily chart, can traders really say the Bitcoin price is back into the hands of the bulls? The technical indicator Relative Strength Index (14) is seen moving above 40-level, if the indicator can continue with the upward trend, the price could also be pushed towards the resistance level of $48,000. On the other hand, the gap between the 9-day moving average and the 21-day moving average suggests that the upward movement may still come into play.

Moreover, BTC/USD could also settle in a tight range limited by $45,000 on the downside and $48,000 on the upside. Therefore, if the market price breaks above the moving averages, BTC/USD may likely hit the potential resistance levels at $52,000, $54,000, and $56,000 while the supports are located towards the lower boundary of the channel at $42,000, $40,000, and $38,000 respectively.

BTC/USD Medium – Term Trend: Ranging (4H Chart)

The 4-hour chart reveals that BTC/USD is moving sideways around the 9-day and moving average. However, the coin may depreciate if the $47,000 support is broken one more time. This may likely cause the Bitcoin price to fall below the lower boundary of the channel which may bring it to the critical support level of $46,000 and below.

BTCUSD – 4 Hour Chart

On the contrary, if the bulls regroup and hold the current price tight, BTC/USD may likely cross above the 21-day moving average to hit the potential resistance level at $49,000 and above as the technical indicator Relative Strength Index (14) moves to cross below 40-level, which may likely push the coin to the downside.

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