Bitcoin (BTC) Price Prediction: BTC/USD Trades Marginally as Bitcoin Pauses Above $45.5k



BTC/USD Is Range-bound between $45.5k and $52k as Bitcoin pauses above $45.5k -December 19, 2021

Following the December 4 price slump, BTC/USD is now confined in a range as Bitcoin pauses above $45.5K. For the past two weeks, BTC/USD has been fluctuating between levels $45,500 and $52,000. The price action is characterized by small body candlesticks called Doji and Spinning tops. Bitcoin is trading at $46,624 at press time.

Resistance Levels: $70,000, $75,000, $80,000
Support Levels: $50,000, $45,000, $40,000

BTC/USD – Daily Chart

After the December 4 price slump, Bitcoin price fell to the low of $41,634 as bulls bought the dips. BTC price corrected upward to the high of $52,000. For the two weeks, buyers and sellers have been in price tussle between $45,500 and $52,000 price levels. Neither the bulls nor the bears have broken below or above the range-bound levels. For instance, if the bears have broken below the $45,500 support and the bearish momentum is sustained, the market would have declined to $41,634 low. Similarly, if the bulls have broken above the $52,000 resistance, BTC price would have risen to the $60,000 psychological price levels. Today, the price movement has been marginal above the $45,500 support. Bitcoin is consolidating above the lower price range. The king coin is at level 36 of the Relative Strength Index for period 14. It indicates that Bitcoin is in the downtrend zone and capable of falling on the downside.

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 Bitcoin (BTC) Price Prediction: BTC/USD Trades Marginally as Bitcoin Pauses Above $45.5k

BTC/USD – 4 Hour Chart

Meanwhile, Bitcoin is confined to a range between $45,500 and $52,000 as Bitcoin pauses above $45.5K. The price action is dominated by small body indecisive candlesticks called Doji. These candlesticks indicate that buyers and sellers are undecided about the direction of the market. Today, the price movement has been stagnant.

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