Crypto Technical Analysis

Bitcoin(BTC)/USDT Technical Analysis: 25 December 2021

Bitcoin Technical Analysis 25th December

Bitcoin in recent times is swinging within a varying range and proceeding with baby steps. However, by doing so, it paves way for the other altcoins to thrive as the profits from BTC tend to flow to Ethereum first and later to other altcoins. Or else the probability of the dominant crypto of just relaxing before a massive move also emerges out of the blues. And hence leaving the crypto folks under immense uncertainty over the upcoming move. 

Bitcoin(BTC)/USDT Technical Analysis at a Glance

BTC price with a huge boost bragged in through the consolidation and rallied high to hit $50,000 all at once. Yet quickly the bears jumped in to extract their profits and hence the asset witnessed a slight pullback. However, the buyers were also well set in place which assisted the price to sustain above $50K. Else, the asset amid the pullback was primed to hit lower levels around $48K. 

Well, what may be the next plan of action for the asset? – This is the million-dollar query raised by almost all crypto folks. And the current blog intends to find a suitable answer for the query.

Short-Term The BTC price is consolidating heavily and hence a strong trend reversal may be fast approaching.
Mid-Term In the mid-term, the price appears to have been trending along with the upper levels and hence soon may face a correction. But the trend is not bearish.
Long-Term Interestingly, the asset in the long term appears to be pretty bullish as the bearish trajectory has been slashed and the price is slowly climbing towards its highs.

Bitcoin(BTC) Technical Indicators

Indicators 1Hr/1D Action
Relative Strength Index(RSI) 51.6/50.8  Neutral/Neutral
StochasticRSI(STOCHRSI) 99.42/100 Sell/Overbought
MACD 114.00/-1562 Buy/Sell
Rate of Change(ROC) -0.423/3.295 Sell/Buy

The indicators in the short term are pretty bearish while the long term forecast is thriving. The SMA & the EMA point out a ‘buy signal’ in the short term and long term. 

Additional Read: BTC Price Prediction

Bitcoin(BTC) Technical Analysis for the Week

Bitcoin price was swinging within a very narrow range since the beginning of the present week. After visiting the bottom levels around $45,500, the asset ignited with a notable uptrend, using a strategy. The BTC price jumped out of consolidation and spiked high to head towards the next levels. However, the price consolidated immediately after the spike which indicates the formation of a bull flag. The asset pierced through the $50K mark using this strategy and it appears it has worked well.

Source: Tradingview Date: 25-12-2021 Time: 03:30pm

After repeating a similar pattern, the BTC price may range high yet again to smash the next levels which are pretty crucial. The Bitcoin price despite ranging high yet cannot be validated as an uptrend until and unless the asset reaches a minimum of $52,000 as a crucial resistance lies in range. From here the journey of BTC price becomes a little tough as the next crucial resistance lies around $60K piercing through the $58K levels. 

The 100-day and 200-day MA SMA & EMA are very close to $50,000 and hence point out to a strong buy signal in the short term. Moreover, the BTC price managed to break the descending consolidation and bragged above the trend line. This is where the asset experienced extreme volatility. 

Additional Read: ETH/BTC Technical Analysis

Bitcoin(BTC) Technical Analysis for Today: 25 December 2021

Bitcoin in its current dynamic cycle has a good ability to hold the well-established range and build-up above the 100-day MA. And hence the probability of the asset breaking above the crucial zones around $51,500 could activate the next bull run to $58,000. Therefore despite a bearish reversal in the next couple of hours from the current levels around $50,857, yet the bitcoin price may rebound with hue bullish momentum very soon. 

Where & How to buy Bitcoin(BTC)

Bitcoin is the very first digital asset and hence is available for trade on all platforms. Yet if you want to buy Bitcoin in India, CoinDCX is the best choice you can make. It’s one of the top cryptocurrency exchanges with a huge user base of more than 7.5 million. If you have not started yet, then just download the CoinDCX app and register yourself at a single touch. 

Currently, CoinDCX is running some amazing programs, where-in one can earn huge rewards. Like the ‘New Year Countdown Carnival’, ‘Refer Reward Repeat’, ‘Mobiwik Supercash Offer’, etc, and many more. So buy your first Bitcoin on CoinDCX with ease and at affordable rates. 


Disclaimer: The above views, information represent the independent views of Primestack Pte. Ltd, Neblio Technologies Pvt. Ltd, and/or their affiliate entities and are for informational/ educational purposes only. The content, information or data provided above is not an offer, or solicitation of an offer, to invest in, or to buy or sell any interest or shares, digital assets/ cryptocurrencies or securities, or to participate in any investment or trading strategy. Any statement or communication made above shall not be treated as legal, financial, investment or tax advice by the reader. The calculations, data, risk-return formulations, performance or market capitalization indicators captured above are based on the independent data sourcing including collation of public information and/or analysis performed by analysts, advisors or employees of Primestack Pte. Ltd/ Neblio Technologies Pvt. Ltd and/or their affiliate companies and/or any third party. Past performance is not indicative of any future results. The reader(s) are hereby advised to consult their financial/ legal/ tax advisor(s) before making any investment.


 

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