Bitcoin (BTCUSD) Price Forecast: December 20
The Bitcoin market is catching the attention of crypto enthusiasts as the price initiates another uptrend and looks nice with its promising performance. The coin price is on the rise and aiming to rally to its previous resistance level of $108,388, if the buy traders put more effort into their trading activities, the crypto price might be exposed to another resistance level of $120,000, bolstering the crypto market and investors for high recovery.
Key Levels:
Resistance Levels: $100,000, $101,000, $102,000
Support Levels: $66,000, $65,000, $64,000
BTC (USD) Long-term Trend: Bullish (Daily Chart)
The BTCUSD price initiates another uptrend as the bulls remain dominant in the long-term outlook. The coin price is trending 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 $105,100 high mark in the last few hours has enabled the crypto’s price to initiate another uptrend above the supply trend levels in its recent high.
After completing yesterday’s low at the $99,159 level, the Bitcoin price initiated another uptrend at the $101,084 high point above the EMA-50, to resume the daily chart, suggesting sparking investors’ interest and momentum.
Thus, a possible breakout from the mentioned supply will accelerate the buying momentum and push the prices higher to hit the $108,000 resistance level.
Hence, the BTCUSD uptrend may continue and 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 coin price to as high as $120,000 in the days ahead as the crypto initiates another uptrend in the higher time frame.
BTC (USD) Medium-term Trend: Bearish (4H Chart)
The high inflow from investors has made the BTCUSD price initiate another uptrend and trade below the supply levels in its medium-term outlook. The previous bearish trend at a $ 99,939 level has sustained the crypto’s price below the resistance level in its recent high.
The Bitcoin price initiates another uptrend to the $101,847 supply level below the EMA-50 as the 4-hour chart resumes today, suggesting an intraday gain for the coin investors.
If the bull’s performance persists and bullish momentum is sustained above the $107,858 resistance trend lines, further bearish sentiment will be put to hibernation.
Additionally, the daily stochastic remains in an upward direction. Hence, if the buy traders break above the $107,858 previous supply trend line, the market participants may initiate another uptrend and witness a new recovery rally to reach the $120,000 high mark in the days ahead in its medium-term time frame.
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