Since its spectacular rise on October 23, a day when it flirted with $35,000, bitcoin has only fallen slightly. Today, the queen of cryptocurrencies surprised the community again by trading at $44,200. What can we expect from this game changer?
Bitcoin explodes $44,000 resistance
Our crypto analyst highlighted a disappointing bitcoin, with a decline of -5%, in the second week of December. However, the flagship crypto’s recent change of direction has not gone unnoticed by the entire community. Yesterday, December 19, for example, BTC was trading around $43,100. A rise of 7% was reported on occasion.
“ Bitcoin is soaring!
Can it reach $48,000? »
In a recent publication, Cointelegraph reported that bitcoin traded at $44,900 after Wall Street opened on December 20 (Sources: Cointelegraph Markets Pro and TradingView). Enough to evoke a comeback for the queen of cryptos who suffered a drop of around $40,000 at the start of the week. This did not fail to revive the hope of an imminent bull run among some traders.
Jelle, whose tweet is displayed above, did not hesitate to set a goal of $48,000. In his eyes, BTC seems “ can’t wait to go out » to the point of pushing him to take back the support as a “ shallow fold “.
Analyst Matthew Hyland, for his part, expects new rather modest highs by the end of the year: $46,000.
“ BTC is now at the top of the double bottom reversal range.
The price target if the breakout is confirmed would be around $46.3K.
It would also be necessary to break the resistance at the annual high level of the month. »
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