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The Bitcoin price prediction shows that BTC may autumn below the 9-day and 21-24-hour interval moving averages if it touches the support of the $16,000 level.

Bitcoin Prediction Statistics Data:

  • Bitcoin toll now – $16,911
  • Bitcoin market cap – $326.4 billion
  • Bitcoin circulating supply – 19.two million
  • Bitcoin full supply – 19.2 million
  • Bitcoin Coinmarketcap ranking – #1

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

Key levels:

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

Support Levels: $14,500, $12,500, $10,500

The daily nautical chart reveals that BTC/USD may claim more support as the king coin moves within the descending aqueduct with the current consolidation design. Moreover, every bit the money fails to head towards the upper boundary of the channel, the Bitcoin price may probable meet a sharp drib below the lower boundary of the channel. However, the nearest support may exist located at $sixteen,000. Beneath this, other supports could be institute at $14,500, $12,500, and $x,500.

Bitcoin Price Prediction: Bitcoin (BTC) May Head to the South

According to the daily chart, the Bitcoin price has failed to break to a higher place the resistance level at $17,,000, the king money may ready another few days of negative price declines beneath $16,500. Meanwhile, a break above the previous level would have set Bitcoin up to retest the $17,424 level. The technical indicator Relative Forcefulness Index (14) is moving below the fifty-level, suggesting that the market may head to the s.

During the European session today, the Bitcoin price touches the daily depression of $16,865 but could drib below the nine-day and 21-day moving averages to create another support level. However, if the coin moves toward the upside, resistance levels could be located at $21,000, $23,000, and $25,000.

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

The 4-hour chart shows that the Bitcoin bears are dominating the marketplace by bringing the BTC cost towards the lower purlieus of the aqueduct. Although the Bitcoin toll has non yet crossed below the channel, it’due south probable to create movement downtrends one time it breaks below the support level of $xvi,500.

BTCUSD – iv-Hour Chart

At the moment, BTC/USD is bearish, but whatever upward move above the upper purlieus of the channel could push the price to the nearest resistance at $eighteen,000 and above while the immediate support lies at $16,000 and below. The technical indicator Relative Strength Index (14) is crossing below the fifty-level, suggesting that the marketplace may head to the south.

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Source: https://insidebitcoins.com/news/bitcoin-price-prediction-for-today-december-5-btc-usd-stumbles-again-after-touching-17424

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