Bitcoin Price Prediction for Today, December 12: BTC/USD May Not Go Beyond $16,000 Support

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The Bitcoin value prediction exhibits that BTC is hovering beneath the 9-day shifting common as of late, with the day by day low being situated across the $16,875 degree.

Bitcoin Prediction Statistics Information:

Bitcoin value now – $16,941
Bitcoin market cap – $326.4 billion
Bitcoin circulating provide – 19.2 million
Bitcoin whole provide – 19.2 million
Bitcoin Coinmarketcap rating – #1

BTC/USD Lengthy-term Development: Ranging (Every day Chart)

Key ranges:

Resistance Ranges: $20,000, $22,000, $24,000

Help Ranges: $15,000, $13,000, $11,000

BTC/USD is buying and selling bearishly beneath the 9-day shifting common because the coin strikes to cross beneath the 21-day shifting common. The king coin is more likely to resume a downtrend if the crimson line of 9-day MA crosses beneath the inexperienced line of 21-day MA. Nevertheless, till the bulls break above the 9-day shifting common, the king coin is more likely to face a chronic sideways transfer or head towards the south.

Bitcoin Value Prediction: Bitcoin (BTC) Could Fall to rising Once more

On the time of writing, the Bitcoin value is buying and selling up with a lack of 0.84% at its present value of $16,941. Nevertheless, the present market motion might mark a slight decline, and the approaching days might deliver the worth to the damaging aspect, because it might slide beneath the 21-day shifting common.

However, Bitcoin (BTC) stays inside the shifting averages, with bears bringing the worth towards the south, any additional bearish motion towards the decrease of the channel might deliver the worth to the help ranges of $15,000, $13,000, and $11,000 whereas the resistance ranges might be situated at $20,000, $22,000, and $24,000 whereas the technical indicator Relative Power Index strikes beneath the 50-level.

BTC/USD Medium-term Development: Ranging (4H Chart)

The 4-hour chart reveals that the resistance at $18,000 has been too heavy for the bulls to beat as the worth struggles in a consolidation mode, and this has made the cryptocurrency stay on the draw back. In the meantime, because the coin trades beneath the 9-day and 21-day shifting common, crossing beneath the decrease boundary of the channel might hit the help at $17,500 and beneath.

BTCUSD – 4-Hour Chart

Nevertheless, the Bitcoin value is roaming round $16,973 as bulls couldn’t push the worth above the 9-day and 21-day shifting averages. Furthermore, the resistance degree of $17,500 and above might come into play if the technical indicator Relative Power Index (14) crosses above the 50-level however at present hovering on the draw back.

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