The top two cryptocurrencies are essentially unchanged from the previous weekend to end 2022, a terrible year for coin pricing. Investors are getting ready to ring in the New Year 2023, and Bitcoin (BTC) is still seeing choppy trading because there isn’t much volatility. However, given that BTC has been stabilizing in a constrained range between $16,450 and $16,750, the Bitcoin price and Ethereum projection haven’t altered much recently.
Today Bitcoin Price
| DATE | BTC | USD |
|---|---|---|
| Today | 01 | $ 16,613.16 |
Bitcoin Price Prediction
The price of one bitcoin is currently $16,547, and $10 billion worth of transactions had taken place in the previous day. On the 4-hour time scale, Bitcoin is finding strong support at $16,460, which is being extended by an outward trend line shown in the chart below.
To forecast price movement, Bitcoin must exit a constrained trading range. If the $16,720 level is successfully broken, the price of bitcoin may rise to the next resistance level of $16,990.
A bearish breakout of the $16,460 level might expose Bitcoin to quick support levels of $16,200 or $16,000 because the RSI and MCD are negative. BTC might be exposed to the $15,500 level if today’s unfavorable collapse of $16,000 continues.
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