Bitcoin (BTCUSD) Price Forecast: December 11
The BTCUSD pair at the moment is trying hard not to fall by resisting sellers; the bulls will keep getting stronger as the coin market price now trades very close to the upper high level. However, the crypto will keep rising further and this can be achieved if the current supply at $43969.00 value ignites a sharp increase and closes above the $45000.00 resistance, this rally may register a $46000.00 upper resistance level and beyond, leading to a higher profit for the coin investors.
Key Levels:
Resistance Levels: $40000.00 $41000.00, $42000.00
Support Levels: $36000.00, $35000.00, $34000.00
BTC (USD) Long-term Trend: Bullish (Daily Chart)
BTCUSD remains bullish as the bulls keep getting stronger in the higher time frames. This is clear as we can see the prices trading above the moving average lines indicating an uptrend.
However, the previous action at the $44754.99 high level in the past few days has sustained the coin price to remain above the trend line in recent times.
After completing the lows at the $43586.14 level during yesterday’s session, the coin holders made a ride to the $43969.00 supply mark above the moving averages as the daily session begins today. This affirms that Bitcoin is actively traded by the buyers at the moment. This, however, will trigger a new bull cycle and a potential buy for the interested buyers.
However, there are bullish signals above the level of $42410.46 which indicates that the bulls will keep getting stronger: thus, a possible further increase in the market value.
Meanwhile, the BTCUSD pair has a target price of level $46000.00 as it keeps getting stronger above the supply level as indicated by the daily stochastic pointing up. The mentioned target might be reached soon in its long-term perspective.
BTC (USD) Medium-term Trend: Bullish (4H Chart)
According to the chart below the BTCUSD pair portrays a bullish market trend as the bulls keep getting stronger in its medium-term view. The price, wavering above the moving averages indicates the high impact of the bulls.
The previous strength by the bulls to a $44156.35 high mark in the last few hours has made the coin remain strong above the supply line in its recent high.
The impulse move by the buy traders to a $43969.00 high level as the 4-hour chart opens today indicates more strength in buyers’ commitment.
This will however give the buy traders the tendency to keep getting stronger and further ladder up the trend. To push the price above the supply zone more buyers’ participation is a prerequisite.
However, there is a possibility of a further increase in the price of Bitcoin, if the buy traders increase their price actions and all the current support level holds, a psychologically key level at the $46000.00 supply level might be reached soon in its medium-term view.
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