Bitcoin Price Prediction, BTC Investors Unwrap Christmas Crypto Joy
- Bitcoin surged on Wednesday after the Federal Reserve's two-day meeting, where it kept interest rates stable and predicted multiple reductions in the coming year.
- Bitcoin, the market leader, rebounded about 4% after three days in the red, showcasing a solid recovery.
- Additionally, the crypto industry surged after the FOMC meeting, signaling increased investor interest in this alternative to traditional finance.
Bitcoin stabilizes above $40,000, faces hurdles at $43,500.
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According to Coingabbar Technical Analysis, Bitcoin price formed a base above the $40,000 support zone.
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BTC is now struggling to clear the $43,500 resistance zone and consolidating.
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The retracement revisits the previously breached resistance trendline of a former upward channel.
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Daily chart indicates a potential bullish morning star candle pattern.
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BTC encounters resistance from the 100-period two-hourly moving average on the 2-hour chart.
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On the hourly chart, BTC breached the Bearish Flag pattern and traded higher.
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On the Daily chart, BTC Invalidate the Rounding Top Pattern and trading higher.
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The main question is that will BTC breach $43500 and $45000 level and touch $50000?
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Or will it breach $40000 and come back towards $35000?
KEY LEVELS :
RESISTANCE LEVEL : $43,100-$43,600
SUPPORT LEVEL : $42,500-$42,000
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.
