Bitcoin

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The prices of most coins keep facing corrections, according to <a href="https://u.today/shib-price-analysis-for-december-15" rel="noopener noreferrer nofollow">CoinStats</a>. <img data-entity-type="file" data-entity-uuid="960fb135-5280-47f8-a752-a268847e5645" src="https://u.today/sites/default/files/inline-images/top10_834.png">BTC chart by&nbsp;<a href="https://coinstats.app/coins/" rel="noopener noreferrer nofollow">CoinStats</a>
<h2 id="btc-usd">BTC/USD</h2>
The rate of Bitcoin (BTC) has risen by 0.4% over the last day. <img data-entity-type="file" data-entity-uuid="debcc77d-0028-4ea4-8242-042a71461716" src="https://u.today/sites/default/files/inline-images/btc1_157.png">Image by&nbsp;<a href="https://www.tradingview.com/symbols/BTCUSD" rel="noopener noreferrer nofollow">TradingView</a>
On the hourly chart, the price of BTC is trading near the local resistance level of $42,446. If buyers can hold the initiative, there is a possibility of a breakout followed by a move to the $42,700 zone. <img data-entity-type="file" data-entity-uuid="ff0980a1-a8ee-432b-a0c2-e66faa69e91a" src="https://u.today/sites/default/files/inline-images/btc2_143.png">Image by&nbsp;<a href="https://www.tradingview.com/symbols/BTCUSD" rel="noopener noreferrer nofollow">TradingView</a>
On the bigger time frame, neither buyers nor sellers are dominating as the rate is far from the support and resistance levels.
All in all, ongoing sideways trading between $42,000 and $43,000 is the more likely scenario for the next days. <img data-entity-type="file" data-entity-uuid="0fe6d714-c612-413a-9a58-8859b8e0bcdd" src="https://u.today/sites/default/files/inline-images/btc3_140.png">Image by&nbsp;<a href="https://www.tradingview.com/symbols/BTCUSD" rel="noopener noreferrer nofollow">TradingView</a>
On the weekly chart, bulls could not maintain the rise after the last bullish candle. If the bar fails to close above the $44,000 mark, traders may expect a correction to the $40,000 zone.
Bitcoin is trading at $42,317 at press time.

Bitcoin (BTC) Price Analysis for December 16

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