Bitcoin (BTC/USD) Price Shifts South, Pursuing Base Reconstruction
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Bitcoin Price Prediction – December 13
A trade path that has featured a series of uprising forces pertaining to the stance of Bitcoin versus the valuation of the US Dollar as the crypto-economic trade shifts south, pursuing base reconstruction,.
Given that the middle Bollinger Band trend line is positioned around the point to validate the point as the crucial trading zone for the retracement motion, the decreasing force is likely to weaken around the $40,000 mark, as we have been witnessing. It’s possible that bulls may restore their momentum in the direction of or near the previously stated value line. Investors should adhere to the cautious strategy of purchasing and holding in the interim.
BTC/USD Market
Key Levels:
Resistance levels: $44,000, $46,500, $49,000
Support levels: $37,500, $35,000, $32,500
BTC/USD – Daily Chart
The BTC/USD daily chart reveals the crypto-economic price shifts south, pursuing base reconstruction around the middle Bollinger Band.
The stochastic oscillators have turned southbound into the oversold region, showcasing that a falling force is still in place to some reasonable extent. The Bollinger Band trend lines are featured in such a formation that it is portending that upward trade zones are not yet in shape.
As per this technical analysis, what pivotal trade point is shown by the BTC/USD market indicators?
Indicators are presently showing that the BTC/USD trade shifts south, pursuing base reconstruction around the trend line of the middle Bollinger Band.
The middle Bollinger Band is positioned to give the velocities a warning signal against witnessing any further free fall-offs. It could be a while before seeing the price action propel the crypto’s values beyond its recent resistance line of $44,000. Once the price finally reaches a formidable baseline, subsequent rebounding forces will potentially push through barriers above the point in the long run.
As the BTC/USD market sellers have pushed the price down to around the $41,209.47 value line, the maximal bearish capacity that the price can be further moved isn’t expected to be more than $37,500, or, in an extension of that sentiment, might not be below the $36,000. Short-position takers should know that bulls have already built the strength to surge back upward at any point in time.
BTC/USD 4-hour Chart
The BTC/USD 4-hour chart depicts the crypto market shifting south, pursuing base reconstruction in the Bollinger Bands.
The placement of the stochastic oscillators indicates that a gain is starting to show signs of reversal. The Bollinger Band trend lines have momentarily leaned to the south, maintaining the $44,000 and $40,000 levels. That suggests that there have been fewer demands placed on the US currency in relation to Bitcoin’s market value.
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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