Bitcoin Price Prediction for Today, December 4 – BTC Technical Analysis

The Bitcoin price prediction shows that BTC gains 4.04% as bulls keep working hard to nurture a bullish trend from the opening price.

Bitcoin Prediction Statistics Data:

• Bitcoin price now – $41,602
• Bitcoin market cap – $815 billion
• Bitcoin circulating supply – 19.5 million
• Bitcoin total supply – 19.5 million
• Bitcoin CoinMarketCap ranking – #1

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

Key levels:

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 the 9-day and 21-day moving averages after the king coin touches the daily high at $42,203. Since the past few days, the Bitcoin price has been toward the north, and in the context of this; an upward movement toward the resistance level of $44,000 is expected.

Bitcoin Price Prediction: Will BTC Break Above $45k Level?

If the Bitcoin price can continue the upward movement above the 9-day and 21-day moving averages, it is likely for the market price to touch the resistance level of $45,000. However, the purpose of this movement is to provide a resistance level that is above the upper boundary of the channel as the 9-day MA remains above the 21-day MA.

Looking at the daily chart, BTC/USD may experience a quick retracement or sell-off just in case it touches the support level of $39,000 but if not; traders may see additional resistance at $46,000, $48,000, and $50,000 levels. On the downside, if the market decides to fall, the Bitcoin price could fall below the 21-day moving average, and if that barrier fails to hold the sell-off, BTC/USD could see a further decline toward the support levels of $36,000, $34,000, and $32,000.

BTC/USD Medium-term Trend: Ranging (4H Chart)

On the 4-hour chart, traders expect the Bitcoin price to gain the lost momentum and could trade above $42,000. On the contrary, if the selling pressure still exists and the king coin is not able to cross above the upper boundary of the channel, sliding below the moving averages could hit $39,500 and below may come into play.

However, in as much as the buyers keep the price above the 9-day and 21-day moving averages, traders may expect a strong bullish movement that could hit the resistance at $43,500 and above. Meanwhile, the 9-day MA remains above the 21-day MA, suggesting that more bullish signals may come into play.

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The current market scenario sees Bitcoin on a bullish trajectory, with the potential for further upward momentum. If this trend persists, Bitcoin may undergo a phase of bullish momentum, setting its sights on the initial resistance at $43,000 before progressing toward the subsequent barrier at $44,000. Meanwhile, to fuel additional bullish movement, the coin must surpass the upper boundary of the channel. In doing so, Bitcoin could unlock even greater potential for upward mobility.

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