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<ul>
 <li style="font-weight: 400;">BTC was up by over 4% in the last 24 hours, along with a rise in volume.&nbsp;</li>
 <li style="font-weight: 400;">Market sentiment around BTC looked positive, but a few indicators were bearish.&nbsp;</li>
</ul>
After making investors wait for quite some time, <a href="https://ambcrypto.com/search/bitcoin" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">Bitcoin [BTC]</a> finally registered green on its chart. It was interesting to note that the coin’s price gained upward momentum after it slipped below a key supply zone. 
Let’s dive deep into the blockchain’s health to see what helped BTC display this bullish performance.
<h4>Bitcoin is rising again!</h4>
Bitcoin’s charts remained red for several weeks as its price moved sideways. Thankfully, things changed in the recent past as a trend reversal took place.
 According to <a href="https://coinmarketcap.com/currencies/bitcoin/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">CoinMarketCap</a>, BTC was up by more than 4% in the last 24 hours alone. 
At the time of writing, it was trading at $42,942.56 with a market capitalization of $840 billion. A bullish development was that the price hike was accompanied by a rise in BTC’s daily trading volume. 
Right before the king of cryptos’ gained bullish momentum, it slipped below a key supply zone. 
Ali, a popular crypto analyst, recently pointed out in a tweet that <a href="https://ambcrypto.com/why-bitcoin-longs-are-seeing-liquidations/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">BTC</a> went below a supply zone ranging from $41,200 to $42,400. He mentioned that this could increase selling pressure on the coin.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">#Bitcoin</a> has slipped below a key supply zone, ranging from $41,200 to $42,400. In this area, 1.87 million addresses had accumulated 730,000 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">$BTC</a>.
 This downturn might trigger these holders to sell, aiming to cut losses.
 If selling pressure increases, watch for a possible decline… <a href="https://t.co/aTX1RWarkb" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/aTX1RWarkb</a>
 — Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1736680326141816895?ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">December 18, 2023</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
However, selling pressure on BTC did not increase. AMBCrypto’s analysis of CryptoQuant&nbsp;<a href="https://cryptoquant.com/asset/btc/summary" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">data</a> revealed that BTC’s net deposits on exchanges were low compared to the last seven-day average. 
Additionally, BTC’s supply on exchange went below its supply outside of exchanges, suggesting a slight increase in buying pressure.
<div id="attachment_359430" style="width: 100%" class="wp-caption aligncenter"><a href="https://statics.ambcrypto.com/wp-content/uploads/2023/12/Bitcoin-BTC-11.27.38-19-Dec-2023.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img aria-describedby="caption-attachment-359430" decoding="async" class="wp-image-359430 size-full" src="https://statics.ambcrypto.com/wp-content/uploads/2023/12/Bitcoin-BTC-11.27.38-19-Dec-2023.png" alt="" width="2560" height="867" srcset="https://statics.ambcrypto.com/wp-content/uploads/2023/12/Bitcoin-BTC-11.27.38-19-Dec-2023.png 2560w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/Bitcoin-BTC-11.27.38-19-Dec-2023-300x102.png 300w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/Bitcoin-BTC-11.27.38-19-Dec-2023-1024x347.png 1024w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/Bitcoin-BTC-11.27.38-19-Dec-2023-768x260.png 768w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/Bitcoin-BTC-11.27.38-19-Dec-2023-1536x520.png 1536w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/Bitcoin-BTC-11.27.38-19-Dec-2023-2048x693.png 2048w" sizes="(max-width: 2560px) 100vw, 2560px"></a>
 Source: Santiment
</div>
AMBCrypto then had a look at Bitcoin’s liquidation levels to see at which point it initiated its rebound. 
Our analysis found that BTC started to move up after touching a key support level of $40,600. After touching that mark, BTC steadily moved up until it faced resistance at $43,500.
<div id="attachment_359432" style="width: 100%" class="wp-caption aligncenter"><a href="https://statics.ambcrypto.com/wp-content/uploads/2023/12/newplot-6.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img aria-describedby="caption-attachment-359432" decoding="async" class="wp-image-359432 size-full" src="https://statics.ambcrypto.com/wp-content/uploads/2023/12/newplot-6.png" alt="" width="1482" height="736" srcset="https://statics.ambcrypto.com/wp-content/uploads/2023/12/newplot-6.png 1482w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/newplot-6-300x149.png 300w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/newplot-6-1024x509.png 1024w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/newplot-6-768x381.png 768w" sizes="(max-width: 1482px) 100vw, 1482px"></a>
 Source: Hyblock Capital
</div>
<h4>Will this trend last?</h4>
Since the price pump gave investors hope for a continued uptick, AMBCrypto then checked the market sentiment around <a href="https://ambcrypto.com/bitcoin-fees-soar-should-you-be-concerned/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">BTC</a>. 
We found that Bitcoin’s social volume remained high consistently, reflecting its popularity. Additionally, sentiment around BTC also turned bullish, as evident from the improvement in its weighted sentiment graph.
<div id="attachment_359434" style="width: 100%" class="wp-caption aligncenter"><a href="https://statics.ambcrypto.com/wp-content/uploads/2023/12/Bitcoin-BTC-11.31.37-19-Dec-2023.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img aria-describedby="caption-attachment-359434" decoding="async" class="wp-image-359434 size-full" src="https://statics.ambcrypto.com/wp-content/uploads/2023/12/Bitcoin-BTC-11.31.37-19-Dec-2023.png" alt="" width="2560" height="867" srcset="https://statics.ambcrypto.com/wp-content/uploads/2023/12/Bitcoin-BTC-11.31.37-19-Dec-2023.png 2560w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/Bitcoin-BTC-11.31.37-19-Dec-2023-300x102.png 300w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/Bitcoin-BTC-11.31.37-19-Dec-2023-1024x347.png 1024w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/Bitcoin-BTC-11.31.37-19-Dec-2023-768x260.png 768w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/Bitcoin-BTC-11.31.37-19-Dec-2023-1536x520.png 1536w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/Bitcoin-BTC-11.31.37-19-Dec-2023-2048x693.png 2048w" sizes="(max-width: 2560px) 100vw, 2560px"></a>
 Source: Santiment
</div>
Read <a href="https://ambcrypto.com/predictions/bitcoin-price-prediction" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">Bitcoin’s [BTC] Price Prediction</a> 2023-24
A look at Bitcoin’s daily chart revealed that its MACD displayed the possibility of a bullish crossover in the coming days. 
Its Chaikin Money Flow (CMF) also registered an uptick, increasing the chances of a continued price surge. Nonetheless, <a href="https://ambcrypto.com/btc-eth-lose-over-the-weekend-whats-next/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">BTC</a>’s Money Flow Index (MFI) remained in the bears’ favor as it went down.
<div id="attachment_359436" style="width: 100%" class="wp-caption aligncenter"><a href="https://statics.ambcrypto.com/wp-content/uploads/2023/12/BTCUSD_2023-12-19_11-33-15.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img aria-describedby="caption-attachment-359436" decoding="async" class="wp-image-359436 size-full" src="https://statics.ambcrypto.com/wp-content/uploads/2023/12/BTCUSD_2023-12-19_11-33-15.png" alt="" width="1549" height="791" srcset="https://statics.ambcrypto.com/wp-content/uploads/2023/12/BTCUSD_2023-12-19_11-33-15.png 1549w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/BTCUSD_2023-12-19_11-33-15-300x153.png 300w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/BTCUSD_2023-12-19_11-33-15-1024x523.png 1024w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/BTCUSD_2023-12-19_11-33-15-768x392.png 768w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/BTCUSD_2023-12-19_11-33-15-1536x784.png 1536w" sizes="(max-width: 1549px) 100vw, 1549px"></a>
 Source: TradingView
</div>
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How will Bitcoin end 2023? Here’s what the price prediction says

AMBCrypto

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