Bitcoin

Resistance

<div class="coinidol">
 <div class="info">
  <div class="news_info">
   Dec 28, 2023 at 10:58 // Price
  </div>
  <div class="author-box">
   <div class="avatar" style="background-image:url(/upload/resize_cache/iblock/42a/60_60_1/42aa5ec847dba7f5a2bce5378ae70614.png)"></div> <span>Author<br>Coin Idol </span>
  </div>
 </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/24c/900_900_1/7zz6dsn3uzs92i96u62aby21w2h3y3m5.jpg" width="900" height="561" alt="" title="">
 <p><strong>The Bitcoin (BTC) price is still trending favorably despite trading in a narrow range. Bitcoin price <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> by Coinidol.com.</strong></p>
 <h2 style="text-align: justify;" id="long-term-prediction-of-the-bitcoin-price-range">Long-term prediction of the Bitcoin price: range</h2>
 <p style="text-align: justify;">The largest cryptocurrency is trading above the 21-day simple moving average but below the $44,700 level. Resistance at $44,000 has further slowed the upward movement. On December 26, the bears dropped below the 21-day simple moving average while the bulls bought the dips. BTC price has recovered above the 21-day SMA but remains below the $44,700 level. The uptrend that began on December 27 was short-lived as Bitcoin turned lower at the $44,000 level.</p>
 <p style="text-align: justify;">Bitcoin stalled around the $44,000 resistance level. Once above the $44,700 resistance, Bitcoin will enter a bullish trend zone. The market will reach a high of $48,000. Bitcoin is currently in danger of falling as it is trading in a narrow range. The largest cryptocurrency will fall if the bears break above the 21-day SMA and the negative momentum continues. Bitcoin will fall above the 50-day simple moving average (SMA) or the low of $40,400.</p>
 <h2 style="text-align: justify;" id="bitcoin-indicator-reading">Bitcoin indicator reading</h2>
 <p style="text-align: justify;">BTC has consistently traded above the 21-day SMA to avoid a dip to the downside. The bears are currently trying to break the 21-day SMA. If the bears succeed, the current rally will come to an end. Selling pressure has currently eased above the moving average lines. This indicates that the sideways trend 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.28.jpg" src="https://cdn.thebittimes.com/images/2023/12/28/b7120238edfa41a7a8fc9a182809d57b.webp" height="551" title="BTCUSD_(Daily Chart) – Dec.28, 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;">The sideways trend could continue if the price returns above the moving average lines. Bitcoin is currently trading in a limited range between $41,600 and $44,000. Since December 20, the barrier at $44,000 has stopped the upward movement. Bitcoin is at risk of a decline if it fails to break through the $44,700 resistance level.</p>
 <p style="text-align: justify;"><img width="1024" alt="BTCUSD_(4-Hour Chart) – Dec.28.jpg" src="https://cdn.thebittimes.com/images/2023/12/28/a7eb9e6dfb228ad784cbb7446545f932.webp" height="551" title="BTCUSD_(4-Hour Chart) – Dec.28, 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>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/bitcoin-price-is-in-danger-as-it-drops-from-its-44-000-level-tbt75018.html">https://thebittimes.com/bitcoin-price-is-in-danger-as-it-drops-from-its-44-000-level-tbt75018.html</a></p>

Bitcoin Price Is In Danger As It Drops From Its $44,000 Level

Table of Contents

TheBitTimes

Other articles published on Dec 28, 2023

Mantle Price Prediction: Will MNT Crypto Could Skyrocket by 2028?

Ethereum Wallet Linked To Donald Trump Moved $2.4M In Crypto To Coinbase

Inscriptions craze buoys zkSync over Ethereum mainnet in 30-day transactions

Whale Pindahkan Triliunan Token Shiba Inu, Apa Imbasnya Bagi Harga SHIB?

Ethereum (ETH) Price Jumps 9% Above $2,400, Beginning of 2024 Bull Run?

Why is WOO Network (WOO) Price Pumping?

Join our free newsletter for daily crypto updates!