The BTC/USD pair is now trading sideways, with a small range of $16,750 to $16,900. However, a breakdown of an upward trendline means that the price prognosis for Bitcoin is still bearish.
Bitcoin’s price has decreased 75% from its previous high of $69,000 this year. Numerous causes, including the demise of FTX and increased selling pressure from whales lowering their influx levels, may have contributed to these losses.
Today Bitcoin Price
| DATE | BTC | USD |
|---|---|---|
| Today | 01 | 17,188.66 |
Bitcoin Price Prediction
The price of bitcoin is at $16,844 and there are $17 billion worth of transactions every day. With barely a 0.20% increase from yesterday, the price of bitcoin is largely steady today.
More losses are anticipated to occur if Bitcoin prices linger below $16,900, a key technical resistance mark. The $16,900 level served as support on the 4-hour period and was extended by an upward trendline; however, the presence of Doji candles suggests that a downturn may be developing.
On the downside, the next level of support for Bitcoin is $16,500. The price of BTC may drop much further, to $16,000 or $15,450, if this barrier is crossed.
A solid rally to at least $17,350 is anticipated if Bitcoin is unable to maintain its recent falling trend and instead shows a positive break over $17,000. The price of bitcoin may hit $17,650 or $18,000 if the upward trend holds.
[embedpost slug=”eth-price-prediction-todays-ehereum-price-11th-dec-2022/”]
