Bitcoin price prediction for today, December 22 – InsideBitcoins

bitcoin price prediction shows btc sliding lower as the cryptocurrency could create another low of $95,000.

bitcoin Prediction Data:

• bitcoin Price Now – $97,816
• bitcoin market cap: $1.92 trillion
• bitcoin circulating supply: 19.79 million
• Total bitcoin supply: 19.79 million
• bitcoin Coinmarketcap Ranking – #1

bitcoin (btc) has seen an extraordinary rise from its all-time low of $0.04865 on July 14, 2010, appreciating over 199,280,707.22%. It recently reached an all-time high of $108,268.45 on December 17, 2024, although it is currently trading between $95,384.80 and $99,507.10, reflecting a 10.46% drop from its peak. This performance highlights the immense potential of early investment in the cryptocurrency market, showcasing bitcoin's remarkable journey from a modest value to a dominant digital asset.

btc/USD Long-Term Trend: Bullish (Daily Chart)

Key levels:

Resistance levels: $110,000, $115,000, $120,000

Support Levels: $85,000, $80,000, $75,000

Taking a closer look at btc/USD with an analytical perspective, the market highlights the importance of the $96,300 support level. This level is subjected to multiple tests and is firmly held, indicating strong market acceptance within this price range. Stability around key support levels encourages efficiency in price action, which is crucial to sustaining market confidence. Thursday's bearish pressure also respects this support, confirming its strength. Maintaining a position above this critical level is a bullish signal, reflecting the market's resilience despite the current challenges.

bitcoin Price Prediction: bitcoin Price May Fall Below $96,000

From a technical point of view, USD dominance has turned bullish, creating obstacles for bitcoin. On the daily chart, bitcoin maintains an appearance of an uptrend. However, the current chart shows a less optimistic picture, with the $99,000 resistance emerging as a critical barrier. It is necessary to overcome this level to resume an upward trajectory. Still, such a move seems unlikely in the near term, particularly given seasonally low trading volumes and the increased volatility often seen during the holiday period. This combination of factors suggests that bitcoin is more likely to trade sideways in the coming weeks.

However, a drop below the lower boundary of the channel could be detrimental for bitcoin as it could take the coin back to the previous supports at $85,000, $80,000, and $75,000. Meanwhile, if buyers can recover from the current level of $97,816.06, the first resistance level could be at $100,000. Above this, further resistance is expected at $105,000. This is likely to be followed by the possible resistance levels of $110,000, $115,000, and $120,000. Currently, the 9-day moving average remains above the 21-day moving average, suggesting that the king coin may consolidate a bit before heading south.

btc/USD Medium-Term Trend: Range (4H Chart)

The bitcoin (btc/USD) chart on the 4-hour chart shows a descending channel, reflecting bearish momentum in the near term. The price is currently trading around $97,745, which is below the 9-day ($97,358.53) and 21-day moving averages (MAs) ($99,243.45). This alignment indicates continued selling pressure. The resistance at $105,000 aligns with the upper boundary of the descending channel, presenting a major hurdle for the bulls. A break above this level, along with a crossover of the 9-day moving average above the 21-day moving average, could signal a possible trend reversal and drive prices higher.

On the downside, the key support level of $90,000 coincides with the lower boundary of the descending channel. If the price falls below this level, the downtrend could accelerate and aim for new lows. Volume analysis suggests declining participation, which could lead to a consolidation phase before the next significant move. Traders should closely watch the 9-day moving average for signs of recovery; However, unless the price can sustainably trade above the 21-day moving average and break out of the descending channel, the overall trend will remain bearish.

Meanwhile, @LordOfAlts advised his followers on x (formerly twitter) to be wary of potential short positions in $btc. He noted that if bitcoin falls below its current 4-hour uptrend, it could trigger a move lower, with a target of at least $86,000.

<blockquote class="twitter-tweet” data-width=”550″ data-dnt=”true” wp_automatic_readability=”9.0471204188482″>

<a target="_blank" href="https://twitter.com/search?q=%24BTC&src=ctag&ref_src=twsrc%5Etfw”>$btc be careful with possible shorts

If bitcoin falls below this 4-hour uptrend, we will look for shorts to at least 86k. pic.twitter.com/QTYNz3a5jy

– Enrique (@LordOfAlts) <a target="_blank" href="https://twitter.com/LordOfAlts/status/1870522098235707456?ref_src=twsrc%5Etfw”>December 21, 2024

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