Cryptocurrency

Bitcoin

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   Dec 18, 2023 at 09:15 // 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/36d/900_900_1/nlunqc1w5uuvqfw2mrbd217j5kpoemwq.jpg" width="900" height="563" alt="" title="">
 <p><strong>Bitcoin (BTC) price threatens to fall as the bears drop below the 21-day simple moving average. Cryptocurrency 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-forecast-for-the-bitcoin-price-bullish">Long-term forecast for the Bitcoin price: bullish</h2>
 <p style="text-align: justify;">Today, December 18, the largest cryptocurrency fell to $40,827 after breaking through the 21-day SMA support. Nonetheless, Bitcoin is at risk of a further decline if buyers fail to hold their position above the 21-day SMA. The negative momentum is expected to extend above the 50-day simple moving average, implying a bottom above the $38,600 support level.</p>
 <p style="text-align: justify;">The cryptocurrency would be above the 21-day SMA if the bulls bought the dips. This will force Bitcoin to trade between the 21-day SMA and the $44,000 level. Buyers have the chance to push Bitcoin to the projected high of $48,000. In the meantime, the Bitcoin price is likely to oscillate between the moving average lines for a few days. At the time of writing, one Bitcoin is worth $41,167.</p>
 <h2 style="text-align: justify;" id="bitcoin-indicator-display">Bitcoin indicator display</h2>
 <p style="text-align: justify;">After a recent dip, the price bar is below the 21-day SMA but above the 50-day SMA. Bitcoin has settled between the moving average lines and is likely to begin a range-bound move. After the previous dip, the moving average lines have continued to rise.</p>
 <h2 style="text-align: justify;" id="technical-indicators">Technical indicators:</h2>
 <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.18.jpg" src="https://cdn.thebittimes.com/images/2023/12/18/c3b4b88816aea8c2ae66ea2d35064c78.webp" height="491" title="BTCUSD_(4-hour Chart) – Dec.18, 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 current rally is over as Bitcoin is under renewed selling pressure. Since December 5, the cryptocurrency has been trading between $40,500 and $44,000. The selling pressure on the largest cryptocurrency will intensify if it falls below the psychological price of $40,000.</p>
 <p style="text-align: justify;">Last week Coinidol.com reported that the Bitcoin price is attempting to retest or break through the $45,000 mark.&nbsp;</p>
 <p style="text-align: justify;"><img width="1024" alt="BTCUSD_(Daily Chart) – Dec.18.jpg" src="https://cdn.thebittimes.com/images/2023/12/18/0da8003b788d6542e54f8408c30820d9.webp" height="523" title="BTCUSD_(Daily Chart) – Dec.18, 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 their research before investing in funds.&nbsp;&nbsp;</span></i></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/bitcoin-slips-above-40-800-and-faces-a-likely-sell-off-tbt74029.html">https://thebittimes.com/bitcoin-slips-above-40-800-and-faces-a-likely-sell-off-tbt74029.html</a></p>

Bitcoin Slips Above $40,800 And Faces A Likely Sell-Off

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