Bitcoin Price Prediction, Market Thrills on Crypto Roller Coaster
- BTC rebounds, nearly erasing Wednesday's flash crash losses, fueled by speculation of an impending spot ETF approval.
- The market anticipates the SEC's verdict on spot Bitcoin ETFs by January 5, driving a notable 2.50% recovery in Bitcoin within the last 24 hours.
- Excitement grows for a possible spot Bitcoin ETF approval, but investors must also consider the 2024 Bitcoin Halving.
Bitcoin surpassed $43,500, faced resistance at $44,500.
According to Coingabbar Technical Analysis, On the daily chart, BTC exhibits an Ascending Channel Pattern and successfully reclaimed the $43,500 resistance, establishing a positive zone.
Despite a recovery above $43,500, Bitcoin encountered resistance around $44,500, presenting a potential obstacle.
The 50 Day EMA serves as a crucial support level for BTC on the daily chart, contributing to a rebound in its price.
The daily time frame reflects a bullish trend, with Bitcoin consistently trading along the ascending trend line.
The key question lingers: Can BTC sustain the $40,000 support and overcome the $46,000 level amidst ongoing speculations?
KEY LEVELS :
RESISTANCE LEVEL : $44,400-$44,900
SUPPORT LEVEL : $43,400-$42,800
Disclaimer: Crypto is not regulated and can offer considerable risks. There may be no regulatory remedies available in the event of any losses resulting from price analysis. As a result, before engaging in any transactions involving crypto products, each investor must perform in-depth examination or seek independent advice.
