Bitcoin (BTCUSD) Price Forecast: December 8
The BTCUSD pair is currently trading in a strong bullish market and looks nice for the bulls at the present. Hence, the coin price could pump ahead to test the previous resistance level of $45000.00 if the buy traders put more effort into their trading activities, the supply level of $44057.23 may not hold and it may be exposed to another resistance level of $46000.00.
Key Levels:
Resistance Levels: $22000.00, $23000.00, $24000.00
Support Levels: $20000.00, $19000.00, $18000.00
BTC (USD) Long-term Trend: Bullish (Daily Chart)
Upward pressure still dominates the BTCUSD pair in the higher time frame. The coin price is now strongly trading above the moving averages with huge volumes from the bulls pumping ahead. Thus, the bulls are in control of the recent market. 
The bulls’ pressure to the $45000.00 high mark in the last few days has sustained the crypto’s price above the supply trend levels in its recent high.
Earlier today the coin buyers responded to the market after a series of low-dips in the previous action and broke out from the support trend line to a high at the $44057.23 supply value above the EMA-50, this is an indication of a price increase and this might continue to pump ahead.
Thus, a possible breakout from the mentioned supply will accelerate the buying momentum and push the prices higher to hit the $45000.00 resistance level.
Hence, the emergence of more buyers to pump ahead is likely as indicated by the stochastic signal pointing up, this will accelerate the emergence of the bulls to move the price up to a significant level on the upside as we watch the market turns more bullish soon in the higher time frame.
BTC (USD) Medium-term Trend: Bullish (4H Chart)
The high inflows from the buy traders also made the BTCUSD price trade in the bullish trend zone in its medium-term outlook.
The previous bullish trend to a $43983.17 level has sustained the crypto’s price above the supply levels in recent times.
The Bitcoin price plummeted to the $43840.78 support level as the 4-hour chart resumes today. Nevertheless, today’s price drop has still not stalled the bull run as it remains intact.
If the bulls should increase their price action, and bullish momentum is sustained far above the resistance trend lines, further bearish sentiment will be hibernated.
Additionally, the daily stochastic remains in an upward direction. Hence, if the buy traders manage to break above the $45000.00 previous supply trend line, the market participants may witness a new recovery rally and this may likely reach the $4600.00 high mark in the days ahead in its medium-term time frame.
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