Bitcoin (BTC/USD) Market Indicators Confirm Bearish Momentum Ahead
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Bitcoin Price Prediction – December 22
Bitcoin market indicators confirm bearish momentum ahead. As the price broke through the diagonal support, the chance for a further crash increased.
The MACD (Moving Average Convergence Divergence) indicator is signaling bearish momentum, as seen with the MACD line crossing below the signal line. Additionally, the histogram bars are turning negative, reflecting increased selling pressure. The 9-day SMA (Simple Moving Average) has begun sloping downward, and the price is trading below it at $96,140, further supporting the bearish bias. The shift in these indicators suggests that the bulls have lost control in the near term.
BTC/USD Market Key Levels:
Resistance Levels: $100,000, $110,000, $115,000
Support Levels: $90,000, $73,840, $66,780
BTC/USD – Daily Chart
The BTCUSD daily chart shows that the market may begin a major fall as the price invalidated diagonal support.
BTCUSD broke below the key support zone at $99,800 after a failed attempt to sustain above $100,000. The breakdown triggered selling pressure, pushing the price towards $92,000. The blue-shaded area highlights a previous consolidation zone, and the price is now testing this area for support.
A further rejection at this level could result in another downward leg. Notably, the break below the ascending trendline adds to the bearish outlook, reinforcing the weakness.
What is the likely projection of BTCUSD?
If BTCUSD fails to hold above $90,000, the next support level is at the major trendline. Below this, a decline towards $73,840 seems probable. Conversely, if the price consolidates and recovers above $92,000, a short-term bounce back to $96,000 may occur before resuming the downward trend.
BTC/USD – Four-Hour Chart
BTCUSD has broken below the ascending trendline support, signaling a shift to bearish momentum. The MACD is in negative territory, reinforcing the downside pressure.
A confirmed break below the $94,220 support level could accelerate the decline toward $90,000 and $88,710. Resistance at $96,950 must hold for the bearish outlook to remain intact.
Bitcoin (BTC) Current Statistics
The current price: $96140
Market Capitalization: $1,950,000,000,000
Trading Volume: $96,370,000,000
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