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Bitcoin (BTC/USD) Market Indicators Confirm Bearish Momentum Ahead

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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Jack Mallers Reveals Trump’s Potential Plan for Bitcoin Reserve

In recent times, the idea of creating a Bitcoin reserve in the United States has gained traction, most especially in the political and legislative sense, as figures like Senator Cynthia Lummis propose an annual acquisition of BTC over five years.

However, Jack Mallers, the CEO of Strike, has revealed in a podcast with Tim Pool that President-elect Donald Trump is considering creating a Bitcoin reserve as soon as possible with an executive order. Though facts about this are yet to be ascertained, Trump’s statement at the New York Stock Exchange hints at significant digital asset-related ideas.

To this end, such a development could mark a crucial point in the introduction of cryptocurrency into the nation’s policy and the world economy at large.

Exploring Trump’s BTC Vision

In a podcast session hosted by Tim Pool, Jack Mallers of Strike disclosed Donald Trump’s plans to utilize the executive order to establish a Bitcoin reserve. Though skeptical, the CEO believes president’s team might have to leverage the Dollar Stabilization Act to justify a related move.

Trump may use broad discretion to strengthen the dollar, sending a strong signal of commitment to BTC and decentralized finance (DeFi).

However, Donald Trump’s recent move and remark at the NYSE have shown his interest in digital assets. To this end, when asked about the possibility of a BTC reserve, his response was optimistic, stating, “We are gonna do something great with crypto.” Therefore, if realized, this initiative might refine, reshape, and give Bitcoin a new role in the world financial environment, changing its status from a speculative asset to a strategic economic tool against instability.

Bitcoin Reserve’s Legislative Development

A prospective lawmaker has suggested starting the Bitcoin ACT of 2024, a proposal led by Senator Cynthia Lummis. The purpose of this law is to add Bitcoin to the Federal Reserve’s and the US Treasury’s holdings.

The senator has also suggested that the nation buy 200,000 Bitcoins a year for a term of 5% of the global Bitcoin supply. If enacted, this bill will indicate that the US intends to establish a presence in the digital asset market. However, proponents contend that because the dollar would become more competitive, the country would be protected against economic volatility. This goal demonstrates the growing bipartisan interest in combining national policy and tokens.

However, with increasing demand for Bitcoin as a store of value, supporters believe a strategic reserve would place the United States at the forefront of financial leadership in the developing global landscape.

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Top Trending Coins for Today, December 21: CGPT, SKYA , DF, AGLD and UXLINK

The top trending markets this week showcase a dynamic shift, with several utility-focused tokens emerging in the top five positions on the trending coins list. Notably, these markets have demonstrated impressive performance over the past 24 hours and the last seven days. According to data from CoinMarketCap, the trend reflects a significant bullish momentum.

For a deeper understanding of these markets and their analysis, let’s take a closer look at their performance and potential.

ChainGPT (CGPT)

Major Bias: Bullish

In recent days, there has been a surge in demand for this market, propelling it to the top spot on the trending markets list. The bullish trend began on Thursday, following a rebound from the $0.15 price level, which had been tested during a bearish phase. This renewed bullish sentiment sparked a price rally, driving the market upward until it encountered resistance at the $0.25 level. Interestingly, this same $0.25 resistance level previously initiated the bearish trend that pushed the market down to $0.15.

Over the past week, the market has experienced significant volatility, which likely contributed to its top position on the trending list. Beyond the volatility, bullish traders may find the market’s recent activity particularly noteworthy. During today’s session, the price broke through the $0.25 resistance level, and the sustained bullish momentum suggests that this level may now act as support.

Additionally, the trading volume indicator shows substantial activity, reflected by prominent histogram readings, further confirming the strong bullish sentiment. With this robust momentum, the market appears poised to sustain its upward trajectory, maintaining a favorable outlook for bullish traders.

Current Price: $0.26

Market Capitalization: $198 million

Trading Volume: $92 million

Sekuya Multiverse (SKYA)

Major Bias: Bullish

Historical data from the market chart suggests that this market was likely launched in late May. Since its inception, the market has shown limited activity, initially drifting slowly downward. Between August and early December, the market remained largely stagnant, with minimal price movement and flat, short trading volume histograms indicating low activity.

In September, trading volume showed signs of increased activity, with tall and significant histograms appearing. However, the price action remained unaffected, staying flat at $0.004. It wasn’t until early December that the market began to show signs of life, as bullish momentum started to push the price upward.

A significant bullish breakout occurred in mid-December, with the price surging higher and peaking at $0.07. This rally eventually triggered a bearish pullback, but the bulls managed to maintain control, establishing a higher support level at $0.013.

During this period, it is possible that some investors were quietly accumulating the asset, contributing to the subsequent bullish breakout. Given this upward momentum, the market may continue to rise in the coming days, presenting potential opportunities for bullish traders.

Current Price: $0.039

Market Capitalization: $15 million

Trading Volume: $2.4 million

dForce (DF)

Major Bias: Bullish

Ranking third on today’s list of trending markets is the dForce (DF) market. This market has secured its position with a remarkable bullish price surge, characterized by hyper-accelerated momentum. The surge has caused a significant divergence in the Bollinger Bands, suggesting explosive market activity.

The Relative Strength Index (RSI) further highlights the strength of the market’s momentum, with the RSI line climbing almost vertically—a clear indication of intense bullish activity. In today’s trading session, the market peaked at $0.12, rallying from a starting level of around $0.04.

While such hyper-bullish movements often precede similarly intense bearish corrections, there is potential for the bulls to capitalize on this momentum by securing higher support levels. Specifically, the $0.08 level could serve as a strong support zone, providing a foundation for the bull market to sustain its upward trajectory.

Current Price: $0.096

Market Capitalization: $96 million

Trading Volume: $275 million

Adventure Gold (AGLD)

Major Bias: Indecision

The Adventure Gold (AGLD) market takes the fourth position on today’s trending list. This market has largely been consolidating within the $1.176–$1.68 price range. Its ascent to fourth place may be attributed to the remarkable and persistent performance of the bulls during today’s trading session.

Historically, the trading volume histograms have remained flat, indicating low trading activity and explaining the prolonged consolidation phase. However, today’s market session tells a different story. A significant spike in trading volume, accompanied by a bullish candlestick, signals increased liquidity in the market, which has driven the price higher.

Currently, the bulls are challenging the resistance at $1.70. Their persistent efforts suggest they may break through this resistance level, as they continue to demonstrate resilience against bearish pressure.

Current Price: $1.76

Market Capitalization: $138 million

Trading Volume: $659 million

UXLINK (UXLINK)

Major Bias: Bullish

The UXLINK market has sustained a continuous bullish trend since last week, with the rally appearing to reach its peak in today’s trading session. Prior to this peak, the market demonstrated remarkable bullish activity, achieving a new high above the $1.50 price level. Approaching this level triggered significant market volatility, as indicated by the Bollinger Bands, which have diverged further in response.

Despite the heightened volatility, the bulls have maintained control of the market. The Relative Strength Index (RSI) is currently at 81, reflecting strong bullish momentum but also signaling an overbought condition.

Given these indicator readings, the market appears poised for a potential correction following its surge above the $1.50 level. Traders should remain cautious and watch for signs of consolidation or a pullback in the coming sessions.

Current Price: $1.50

Market Capitalization: $258 million

Trading Volume: $2.6 billion

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Dash 2 Trade Price Predictions for Today, December 20: D2TUSD Bullish Run May Increase Further

Dash 2 Trade Price Forecast: D2TUSD Bullish Run May Increase Further (December 20)

D2TUSD’s bullish run may increase further as it is about to enter into a full-blown bull. The coin is aiming to rally higher, suggesting investors’ optimism is growing. If the buy traders could increase their pressure massively and all the support holds, the daily candle may break up the $0.00460 high level, setting the potential for a potential climb to the $0.01000 upper supply level and beyond, indicating a strong buy signal for the long traders.

Key Levels:
Resistance levels: $0.00115, $0.00116, $0.00117
Support levels: $0.000892, $0.000891, $0.000890

D2T (USD) Long-term Trend: Bearish (Daily Chart)

The D2TUSD bullish run may increase further as the pair witnesses gradual growth in its higher time frame due to increased buying volume. The price is below the supply levels, suggesting a bearish trend.

The interference of short-term traders to the $0.00108 low level in the previous action has contributed to its bearish momentum in its recent price level.

The bulls caused an increase in the market value of Dash 2 Trade to a high of $0.00114 below the moving averages as the daily session opens today, suggesting a pullback that may attempt the $0.00460 previous barrier level. Thus, traders who buy the coin during the bearish market will also make gains in the future.

Such a move suggests that the bullish run may increase further as buyers return to the coin market to stage a play. This gives the bulls more strength to continue the upward move.

The stochastic oscillator signals an uptrend at the oversold region, suggesting the bullish run may increase further and set the stage for a potential climb to the $0.01000 upper resistance level before the bears takes over in the long term.

D2T (USD) Medium-term Trend: Bearish (4H)

The market price of D2TUSD is currently trading in the bearish market zone, due to the interaction from the sell traders.

The bears’ pressure at the $0.00108 low level in the last session has dropped the price below the supply levels in its recent high.

The Dash 2 Trade price at the $0.00114 supply value below the EMA-50 shortly after the 4-hourly chart opens today is a pullback by the bulls, indicating investors’ interest and confidence in the crypto.

Thus, if the D2TUSD price could stay above the $0.00265 high level, the potential rally may increase further to hit a significant level at the upper side.

The daily signal pointing up suggests the overall outlook shows upward momentum and may increase further to a $0.01000 upper resistance level in the days ahead, offering a good entry point for long traders in the medium term.

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POL (ex-MATIC) Price Prediction: POL/USDT Upside Retracement Extends

POL (ex-MATIC) Price Prediction (December 21):

Upside forces in the POL (ex-MATIC) daily market regained control of price movement just above the $0.4000 price level. The market rebounded strongly upward, such that the subsequent session brought the token to now trade above the $0.5000 price level.

POL/USDT Long-Term Trend: Bearish (Daily Chart)

Key Price Levels:

Resistance: $0.60, $0.70, $0.80

Support: $0.45, $0.40, $0.35

Yes, it is as stated above that the POL (ex-MATIC) token now trades above the $0.5000 threshold. As can be seen, the last price candle on the chart now sits just at the $0.5000 mark as it appears green. Likewise, the mentioned price candle now places the price of the token above the 50-day Moving Average (MA) lines. Also, the Stochastic Relative Strength Index (RSI) lines can be seen rising steadily out of the oversold region.

POL (ex-MATIC) Price Prediction: POL/USDT Bull March Upwards

POL (ex-MATIC)’s price has risen past a technical price level of $0.5000 threshold level. With the ongoing session now sitting just above the mentioned psychological support level. As a result, price activity has risen through one of the two appearing MA curves on the chart. This seems promising as buying confidence may increase, causing the market to rise further.

In addition, the upwards-rising lines of the Stochastic RSI lines also suggest that upside forces are gaining momentum. This appears consistent with the opinion that price action will likely progress upward in subsequent sessions.

POL (ex-MATIC) Price Prediction: POL/USDT Positions for More Tailwind (4-Hour Chart)

Price activity in the ex-MATIC 4-hour market has a notable resemblance to price action on the daily market. The last price candle here has also risen past the 50-day MA line. Here, price action seems to have come a long way with the Stochastic RSI lines now highly in the overbought region. The lines of the indicator have converged but maintain an upward trajectory. The last price candle has now just poked through the 50-day MA line.

At this point, the Stochastic RSI lines seem overstretched but the trajectory of the indicator lines suggests that the market may proceed upwards as the RSI lines prepare to drag sideways at the 100 mark. Therefore, traders can hope that upside forces persist until the market finds support above the 50-day MA curve, as this may cause the market to proceed toward the $0.5600 price level.

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El Salvador Adds 11 More Bitcoin to Reserve After IMF Deal

El Salvador, a Central American country, has added 11 Bitcoin to its national BTC reserves after reaching a $1.4 billion funding accord with the International Monetary Fund (IMF).

The agreement contains limitations that keep Bitcoin’s legal tender status while limiting government intervention in its affairs.

Recent Bitcoin Purchase

El Salvador purchased $1 million in Bitcoin on December 19th, which amounted to 11 coins. This boosts the nation’s total Bitcoin holdings to 5,980.77 coins, worth approximately $580 million.

However, this purchase does not align with the government’s earlier “one Bitcoin per day” strategy introduced by President Nayib Bukele in November 2022. But Stacy Herbert, head of the National Bitcoin Office, on X (formerly Twitter), has hinted that future acquisitions might increase in pace.

This move came shortly after securing the IMF agreement, which requires the government to scale back direct involvement in Bitcoin use. The deal also stipulates that private-sector Bitcoin transactions remain voluntary, taxes must be paid in U.S. dollars, and the state-managed Chivo wallet should be discontinued.

Impact of the IMF Agreement

El Salvador, the first country to adopt Bitcoin as legal tender in 2021, will keep Bitcoin’s legal status intact despite the new restrictions. The government plans to divest from the Chivo wallet, encouraging private companies to take over its services.

While the IMF’s Executive Board is yet to approve the deal, the agreement marks a significant shift in El Salvador’s Bitcoin strategy. Despite restrictions, the government remains committed to acquiring more Bitcoin and holding onto its existing reserves.

El Salvador’s recent Bitcoin purchase showcases its continued commitment to the cryptocurrency, even under stricter guidelines from the IMF. With Bitcoin’s legal status unchanged, the nation is navigating a new balance between its crypto ambitions and international financial obligations.

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$SPONGE (SPONGE/USD) poised for a Bullish Surge

As the consolidation phase continues, as highlighted in the previous analysis of $SPONGE, the bulls remain firmly in control around the $0.00003 price level. In recent days, the price briefly tested levels above $0.000055, but profit-taking at that point led to a retracement back to $0.00003. Despite this pullback, the bulls have maintained their position, demonstrating resilience and strong support around the $0.00003 level.

Key Market Dynamics:

Resistance Levels: $0.00005, $0.000055, $0.000060
Support Levels: $0.000020, $0.0000195, $0.000019

$SPONGE (SPONGE/USD) Technical Outlook

Recent price action, marked by heightened volatility, has resulted in a new low, although bulls are currently defending the critical $0.00003 level. In the previous analysis of the $SPONGE market, a breakout was anticipated due to the bullish divergence between the MACD histogram and price action. However, the ongoing equilibrium between bulls and bears has stalled momentum, and if this tug-of-war continues, market volatility could diminish. Conversely, a significant breakdown below the $0.00003 level could push the crypto signal toward the recent low of $0.0000006, prolonging the current volatile market conditions.

$SPONGE (SPONGE/USD) 1-Hour Chart Insights

In the previous analysis of the $SPONGE market, a shooting star candlestick was observed, signaling that bears were gaining momentum near the $0.00006 price level. However, the resilience of the bulls has been evident as they continue to hold firm against bearish pressure around the $0.00003 level. Current 1-hour trading sessions show bearish dominance, but the presence of bullish sentiment near $0.00003 has kept the price action stable around $0.000028. If the bulls maintain their strength at this critical support level, the market may rebound and rally back toward the $0.00006 price level.

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When the family asks if you have a girlfriend yet pic.twitter.com/SIsQt2KfYk

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Lucky Block (LBLOCK) Eyes Recovery Amid Positive Indicators

Lucky Block (LBLOCK) is showing encouraging signs of recovery after consolidating near its current level of $0.00001577, reflecting a 3.55% increase over the last trading session. The token appears poised for potential upward momentum as technical indicators highlight growing bullish sentiment.

Positive Trends on the Charts

Lucky Block (LBLOCK) Eyes Recovery Amid Positive Indicators — LBLOCKUSDT – Daily Chart

The daily chart showcases LBLOCK maintaining support near $0.00001339, a level that has consistently provided stability. Resistance at $0.00002430 marks the next significant hurdle for buyers, and a breakout above this point could ignite further bullish activity.

The Parabolic SAR dots have shifted above the price action, signaling a potential reversal in the downward trend. Meanwhile, the MACD histogram shows diminishing bearish momentum, with the MACD line nearing a crossover with the signal line, indicating a shift toward positive momentum.

Lucky Block Building Momentum for a Breakout

LBLOCK’s resilience around its current support levels is a promising sign of renewed investor interest. The narrowing gap between resistance and support suggests that a breakout may be imminent. If buying pressure continues to grow, LBLOCK could target higher levels, potentially testing $0.00002000 and beyond in the near term.

Conclusion

Lucky Block (LBLOCK) demonstrates strong potential for recovery, supported by favorable technical indicators. As the token consolidates, the possibility of a bullish breakout grows stronger. Investors should watch for a move above $0.00002430, which could confirm a rally and attract further attention. With positive momentum building, LBLOCK is well-positioned to capitalize on its recent gains and embark on a more sustained upward trajectory.

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Navigating Sanctions: China Explores Economic Resilience with Russia’s Experience

Faced with the specter of Western economic isolation, China casts a keen eye upon Russia’s playbook. The Kremlin’s struggle against sanctions, a poignant drama unfolding before them, serves as a chillingly instructive model.

Beijing, ever vigilant, has convened a council of experts, an interagency shadow cabinet, to dissect every facet of Russia’s ordeal. From the intricate ballet of foreign reserve diversification to the shadowy dance of sanctions evasion—employing ghost fleets and weaving clandestine trade routes—each move is meticulously scrutinized.

Collaboration with Russian counterparts has become a clandestine affair, a silent exchange of intelligence and strategies. Meanwhile, President Xi, a hawk with an eagle eye on the nation’s vast financial reserves, has issued a clarion call: safeguard these treasures at all costs. For in the looming shadow of a Taiwan conflict, the specter of Western sanctions looms large, a chilling reminder of the precariousness of economic independence.

While entwined in a dance of economic interdependence, the partnership between Russia and China remains a tango of unequal footing. This discordant rhythm offers a sobering symphony of lessons for Beijing.

The urgent need for domestic self-sufficiency resonates with a newfound clarity. China must sever the umbilical cord of over-reliance on global supply chains, a vulnerability cruelly exposed by the sanctions levied upon its partner. Furthermore, the seismic tremors of these sanctions, reverberating across the globe, serve as a stark reminder of the interconnected nature of the modern economy.

Analysts, like seismologists anticipating a tremor, warn of a potentially more devastating economic earthquake for China. Its deeper integration into the global marketplace amplifies its exposure to the tremors of international pressure. Yet, amidst the chaos, glimmers of wisdom emerge. Russia’s proactive measures and its strategic alliances forged in the crucible of adversity offer invaluable blueprints for Beijing’s own survival.