Bitcoin

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   Dec 21, 2023 at 08:05 // Price
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   <div class="avatar" style="background-image:url(/upload/resize_cache/iblock/42a/60_60_1/42aa5ec847dba7f5a2bce5378ae70614.png)"></div> <span>Author<br>Coin Idol </span>
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 </div> <img class="page-news__main-pic lazy-load-detail-picture" src="https://coinidol.comdata:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAEAAAABCAQAAAC1HAwCAAAAC0lEQVR42mNkYAAAAAYAAjCB0C8AAAAASUVORK5CYII=" data-lazy-src="https://coinidol.com/upload/resize_cache/iblock/163/900_900_1/1qmd4rl1axh3mlu0w0t9oov3c4iolcaf.jpg" width="900" height="563" alt="Bitcoin resumed its sideways trend and upward movement" title="">
 <p><strong>The price of Bitcoin (BTC) has remained stable above the psychological price level of $40,000, although it has been unable to break through the resistance level of $45,000.</strong></p>
 <h2 style="text-align: justify;" id="bitcoin-price-long-term-forecast-bullish">Bitcoin price long-term forecast: bullish</h2>
 <p style="text-align: justify;">Buyers have consistently protected the key support level of $40,000 and the 21-day simple moving average. When Bitcoin fell to a low of $40,508 on December 18, the bears attempted to break a key support level as well as the 21-day simple moving average. The bulls bought the dips as Bitcoin resumed its sideways trend and upward movement. At the time of writing, the BTC price had reached a high of $43,891.</p>
 <p style="text-align: justify;">On the upside, buyers are still planning to break through the $45,000 resistance level, which would allow Bitcoin to reach a high of $48,000. In the meantime, the BTC price is trading above the 21-day simple moving average but below the $45,000 high.</p>
 <h2 style="text-align: justify;" id="bitcoin-indicator-reading">Bitcoin indicator reading</h2>
 <p style="text-align: justify;">The bears tested the 21-day SMA support on December 18, but the bulls bought the dips. Had the bears been successful, the current rise would have ended. The 21-day SMA acts as a support line that allows the cryptocurrency to rise. The moving average lines are pointing north, indicating that the market is in an uptrend.</p>
 <h3 style="text-align: justify;" id="technical-indicators">Technical indicators:</h3>
 <p style="text-align: justify;"><b>Key resistance levels – $35,000 and $40,000</b></p>
 <p style="text-align: justify;"><b>Key support levels – $30,000 and $25,000</b></p>
 <p style="text-align: justify;"><b><img width="1024" alt="BTCUSD_(4-Hour Chart) – Dec.21.jpg" src="https://cdn.thebittimes.com/images/2023/12/21/eed1003e21206110798202aef19634ac.webp" height="551" title="BTCUSD_(4-Hour Chart) – Dec.21, 2023"><br> </b></p>
 <h2 style="text-align: justify;" id="what-is-the-next-direction-for-btc-usd">What is the next direction for BTC/USD?</h2>
 <p style="text-align: justify;">Bitcoin has remained in a trading range between $40,500 and $45,000 on the 4-hour chart. Bitcoin was in the lower price range on December 18 but withstood a negative move. The bulls have recently made a new high as they struggle to break through the barrier.</p>
 <p style="text-align: justify;"><img width="1024" alt="BTCUSD_(Daily Chart) – Dec.21.jpg" src="https://cdn.thebittimes.com/images/2023/12/21/192206d8c3314566c74352454d3759d4.webp" height="551" title="BTCUSD_(Daily Chart) – Dec.21, 2023"><br></p>
 <p style="text-align: justify;">Coinidol.com reported previously, that on December 18&nbsp;the largest cryptocurrency fell to $40,827 after breaking through the 21-day SMA support.&nbsp;</p>
 <p style="text-align: justify;"><i><span style="color: #959595;">Disclaimer. This <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> and forecast are the personal opinions of the author and are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol.com. Readers should do their research before investing in funds.</span></i></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/bitcoin-stabilizes-as-it-attempts-to-break-through-the-barrier-at-45-000-tbt74399.html">https://thebittimes.com/bitcoin-stabilizes-as-it-attempts-to-break-through-the-barrier-at-45-000-tbt74399.html</a></p>

Bitcoin Stabilizes As It Attempts To Break Through The Barrier At $45,000

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