Bitcoin (BTC/USD) Market Shows Strong Bullish Momentum Now Emerging Above Resistance
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Bitcoin Price Prediction – December 7
BTCUSD market shows strong bullish momentum now emerging above resistance. The bullish trend continuation followed the consolidation that lasted for almost a month.
The technical indicators reflect bullish momentum for BTCUSD. The MACD histogram is positive, showing sustained buying pressure, while the MACD line remains above the signal line. The SMA (9) is trending upward and is currently at $97570. This reinforces the bullish sentiment as the price consistently trades above the moving average, suggesting strong support at this level.
BTC/USD Market Key Levels:
Resistance Levels: $100000, $110000, $115000
Support Levels: $90000, $73840, $66780
BTC/USD – Daily Chart
The BTCUSD daily chart shows that the bulls have returned to the market.
Price action highlights a clear breakout after prolonged consolidation. BTCUSD broke a resistance at $94700 and established a higher structure with a Break of Structure (BOS) at $99860.
A sweep of the swing low at $93500 served as a liquidity grab, paving the way for the recent upward surge. This move suggests that bulls are regaining control, with $100000 being the immediate psychological resistance.
What is the likely projection of BTCUSD?
BTCUSD is projected to continue its bullish run. A strong close above $100000 could open doors for further gains toward $110000.
On the downside, $90000 acts as immediate support. The market shows potential for new highs if buyers sustain momentum.
BTC/USD – Four-Hour Chart
BTC/USD is maintaining a bullish structure on the 4-hour chart, characterized by higher highs and higher lows. The price has broken above the psychological level of $100000, with support at $90000 acting as a strong demand zone.
The 9-period SMA is trending upward, supporting the bullish momentum, while the MACD histogram remains in positive territory. A potential upside target is $110000, provided the price sustains above the $100000 level.
Bitcoin (BTC) Current Statistics
The current price: $99420
Market Capitalization: $1,970,000,000,000
Trading Volume: $84,710,000,000
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