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BTC/USD Move Up Is Imminent

By:Nenad Kerkez
Published: Dec 21, 2021, 12:11 UTC•1min read
The BTC/USD is currently supported at 45000 and 48000. If bulls manage to keep 48000 M L4 support strong, we should see a continuation move up.
Mentioned in Article
Bitcoin
$29,214.94
-2.29%

BTC/USD Technical Analysis

  • BTC/USD is supported
  • 45000 is a strong support
  • M L3 is resistance level
  • Ideally the price needs to stay above M L4
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DAILY CHART BTC/USD

  1. Previous support zone
  2. The high
  3. Entry signal
  4. Target

The BTC/USD is currently supported at 45000 and 48000. If bulls manage to keep 48000 M L4 support strong, we should see a continuation move up. Have in mind that the BTC/USD is very volatile market, so pay attention to sudden volatility bursts. M L3 is strong resistance zone. If the price makes a close above 53655 M L3 camarilla pivot, expect a continuation move towards recent highs. However, we could see some range bound market before the move up. All in all, 45000 needs to hold and 48000 should stay strong too.

Cheers and safe trading,

Nenad

 

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