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Bitcoin Price Analysis — December 21
BTC has broken above the critical 
48K barrier following the Erdoğan-induced rally recorded in the financial markets today. The benchmark cryptocurrency currently trades near its intraday high of 
49K as bulls regain confidence. That said, the recent leg up could kickstart a bullish recovery for the primary cryptocurrency, with the 51.5K top serving as the pivot level for bulls to flip the lasting bias. As long as BTC keeps its head above the descending trendline, I expect the cryptocurrency to hit the earlier mentioned pivot target by the end of the week. A slip back under the trendline should reinstate the lasting bearish bias and bring the 43K support into focus again.
Meanwhile, my resistance levels are at $49,500, $50,000, and $50,500, and my key support levels are at $48,000, $47,000, and $46,000.
Total Market Capitalization: $2.26 trillion
Bitcoin Market Capitalization: $921.1 trillion
Bitcoin Dominance: 40.8%
Market Rank: #1
48K barrier following the Erdoğan-induced rally recorded in the financial markets today. The benchmark cryptocurrency currently trades near its intraday high of 49K as bulls regain confidence. That said, the recent leg up could kickstart a bullish recovery for the primary cryptocurrency, with the 51.5K top serving as the pivot level for bulls to flip the lasting bias. As long as BTC keeps its head above the descending trendline, I expect the cryptocurrency to hit the earlier mentioned pivot target by the end of the week. A slip back under the trendline should reinstate the lasting bearish bias and bring the 43K support into focus again. Meanwhile, my resistance levels are at $49,500, $50,000, and $50,500, and my key support levels are at $48,000, $47,000, and $46,000.
Total Market Capitalization: $2.26 trillion
Bitcoin Market Capitalization: $921.1 trillion
Bitcoin Dominance: 40.8%
Market Rank: #1
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