Bitcoin (BTC/USD) Market Dominates the Features at $17,000
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Bitcoin Price Prediction – December 28
There has been a concurrence of buying and selling activities in the BTC/USD price operation as the crypto market dominates the features around the $17,000 level over a couple of several sessions. The condition signifies low-active ups and downs between $16,749.02 and $16,560.18, maintaining a minute negative percentage rate of 0.39.
BTC/USD Market
Key Levels:
Resistance levels: $18,000, $19,000, $20,000
Support levels: $16,000, $15,000, $14,000
BTC/USD – Daily Chart
The daily chart showcases that the BTC/USD market dominates the features around the $17,000 level, running into some days. Variant trading candlesticks that have formed carry a slight declining mode than giving promissory upside pushes. The 14-day SMA indicator is at $16,941.05, underneath the $18,363.37 value line of the 50-day SMA indicator. The Stochastic Oscillators have clogged between 40 and 20 range points. And they are slightly bending southbound at 31.53 and 28.77 levels to denote that a falling mode is in progress.
Will the characteristics of the BTC/USD market’s activities remain the same, around $17,000?
From the technical reading of the Stochastic Oscillators at the moment, it portends that there will be a continuity in the BTC/USD trade happenings as the crypto market dominates the features around the $17,000 line for quite some days, running into weeks. In the long run, in pursuance of the current low-active pushes to the downside, bulls will likely find support around the $16,000 level most of the time under the current sell-off settings.
On the depreciation-moving side of the BTC/USD market, our believe s that sellers will still not relieve their forces below the 50-day SMA indicator’s value point in the near session. Intending short-position placers who wish to launch a position at all costs can do so when an active move to the south side is spotted. However, a line of sustainable rallying motions can summarily decimate an early stage to getting a decent sell entry order.
BTC/USD 4-hour Chart
The BTC/USD medium-term chart depicts the crypto market dominating the features around the $17,000 trading line within well-defined range-bound zones marked up and down at $18,000 and 416,000 levels. The 14-day SMA trend line is at $16,766.70, closely underneath the $16,876.82 value line of the 50-day SMA indicator. And they both trend eastward to ascertain the pace of the sideways-moving outlook in the market. The Stochastic Oscillators have dipped into the oversold region, trying to close at 0.20 and 1.60 levels to denote that a pause may soon play out.
Note: Cryptosignals.org is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.
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