Bitcoin

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   Dec 26, 2023 at 12:54 // 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/b38/900_900_1/7g52p5332l2jbxyk5d0sup623wqhtyd8.jpg" width="900" height="563" alt="" title="">
 <p><strong>Bitcoin's (BTC) price action is currently constrained by the 21-day SMA support and resistance at $44,700<br> </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;">Bitcoin (BTC) has maintained its range after hitting a high of $44,729 on December 8. In other words, since December 5, the BTC price has been capped by the overhead resistance of $45,000. On December 22, the largest cryptocurrency was rejected again at $44,444. Bitcoin fell above the 21-day simple moving average, but the bulls bought the dips. After the recent drop, Bitcoin has recovered above the 21-day SMA.</p>
 <p style="text-align: justify;">If Bitcoin rises and breaks through resistance at $44,700, the market will rally above the $45,000 high and the positive momentum will extend to the $48,000 high. However, if the bullish scenario proves false, Ether will fall. That is, if the price falls below the 21-day SMA support, it will first fall above the 50-day SMA or the low of $40,198. In the meantime, Bitcoin is worth $43,291 at the time of writing.</p>
 <h2 style="text-align: justify;" id="bitcoin-indicator-reading">Bitcoin indicator reading</h2>
 <p style="text-align: justify;">Bitcoin is in a bullish trend zone, with the price bars finding support above the 21-day SMA. Moreover, the current trend will continue if the bears break the 21-day SMA support. However, as long as the price bars remain above the moving average lines, the rise will continue.</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_(Daily Chart) – Dec.25.png" src="https://cdn.thebittimes.com/images/2023/12/26/5db545bb31201149b8ef27a1cf39a8a1.webp" height="551" title="BTCUSD_(Daily Chart) – Dec.25, 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 started a sideways trend between $40,180 and $44,700 after being rejected at the $45,000 resistance zone. Nonetheless, the cryptocurrency value is now confined to a narrow band of $42,700 to $44,700. The Bitcoin price will evolve if these levels are breached.</p>
 <p style="text-align: justify;"><img width="1024" alt="BTCUSD_(4-Hour Chart) – Dec.25.png" src="https://cdn.thebittimes.com/images/2023/12/26/dc05c5775fe768f4b64250af1b6291df.webp" height="551" title="BTCUSD_(4-Hour Chart) – Dec.25, 2023"><br></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 the 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-is-in-a-stalemate-as-it-is-stuck-below-45-000-tbt74808.html">https://thebittimes.com/bitcoin-is-in-a-stalemate-as-it-is-stuck-below-45-000-tbt74808.html</a></p>

Bitcoin Is In A Stalemate As It Is Stuck Below $45,000

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