Bitcoin price prediction for today, December 4 – BTC technical analysis

Bitcoin price prediction shows BTC up 4.04% as bulls continue to work hard to create a bullish trend at the opening price.

Bitcoin prediction statistical data:

• Current Bitcoin Price – $41,602
• Bitcoin market capitalization – $815 billion
• Bitcoin circulating supply – 19.5 million
• Bitcoin total supply – 19.5 million
• Bitcoin CoinMarketCap Ranking – 1st

BTC/USD Long-Term Trend: Bullish (Daily Chart)

Main level:

Resistance levels: $46,000, $48,000, $50,000

Support levels: $36,000, $34,000, $32,000

BTC/USD is trading at the $41,602 resistance level, above its 9- and 21-day moving averages, after King Coin reached a daily high of $42,203. Bitcoin price has been moving in a northerly direction over the past few days. An upward move towards the resistance level of $44,000 is expected.

Bitcoin Price Prediction: Will BTC Surpass the $45,000 Level?

If the Bitcoin price can continue its upward trend above the 9-day and 21-day moving averages, the market price is likely to reach the resistance level of $45,000. However, the purpose of this move is to keep the 9-day moving average above the 21-day moving average, providing a resistance level above the upper boundary of the channel.

Looking at the daily chart, BTC/USD could experience a quick retracement or sell-off if it reaches the support level of $39,000, but otherwise, traders may see further resistance at the $46,000, $48,000, and $50,000 levels. The downside is that if the market decides to move lower, the Bitcoin price could fall below the 21-day moving average and if that barrier fails to curb the selling, BTC/USD could fall further towards the $36,000 support level. , $34,000, $32,000.

BTC/USD Medium Term Trend: Levels (4H Chart)

On the 4-hour chart, traders are hopeful that Bitcoin price can regain lost momentum and trade above $42,000. Conversely, if selling pressure is still present and King Coin is unable to break above the upper boundary of the channel, it could slide below the moving average and fall below $39,500.

However, as buyers keep the price above the 9- and 21-day moving averages, traders can expect a strong bullish move that could lead to resistance above $43,500. Meanwhile, the 9-day moving average remains above the 21-day moving average, suggesting that more bullish signals may emerge.

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The current market scenario sees Bitcoin on a bullish trajectory with the potential to continue its upward trend. If this trend continues, Bitcoin could undergo a bullish momentum phase as it sets initial resistance at $43,000 and then heads towards the subsequent barrier at $44,000. Meanwhile, the coin needs to cross the upper boundary of the channel to promote further bullish movement. By doing so, Bitcoin could unlock greater potential for upward mobility.

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