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Bitcoin (BTC) Price Prediction for December 25
According to recent market analysis and technical indicators, the price of Bitcoin (BTC) has hit a local resistance level of $98,776. Unfortunately, bulls have not been able to capitalize on this momentum, and as a result, we may see a test of support by tomorrow.
Looking at the bigger picture, traders are advised to focus on the nearest level of $99,514. A breakout above this level could potentially lead to a price surge towards the $100,000 zone and beyond.
However, from a midterm perspective, bears have failed to maintain their downward momentum following a previous bearish bar closure. Therefore, it is premature to assume that we are on the cusp of a swift reversal.
In all likelihood, sideways trading in the range of $94,000-$100,000 is the more probable scenario for the time being. As of writing, Bitcoin’s price stands at $98,447.
This article was written by Denys Serhiichuk, a seasoned trader with over 5 years of experience and an expert in both technical and fundamental market analysis.
Source: u.today
