BTC/USD are trading at 48249 and continue to move as part of the fall and the downward channel. The capitalization of the Bitcoin cryptocurrency at the time of the publication of the forecast is $902,556,154,190. Moving averages indicate a short-term bearish trend for Bitcoin. Prices went down from the area between the signal lines, which indicates pressure from the sellers of ”Digital Gold” and a potential continuation of the fall in the value of the asset already from the current levels. As part of the cryptocurrency rate forecast for tomorrow, December 16, 2021, we should expect an attempt to develop a correction in the value of a digital asset and a test of the resistance level near the area of 50065. Whence we should again expect a rebound downward and an attempt to continue the fall in the Bitcoin rate with a target below the 36405 area.
Bitcoin Forecast BTC/USD December 16, 2021
An additional signal in favor of a fall in BTC/USD quotes will be a test of the trend line on the relative strength index (RSI). The second signal in favor of this option will be a rebound from the upper border of the descending channel. Cancellation of the option to drop the Bitcoin rate and value will be a strong growth in the value of the asset and a breakdown of the 56405 area. This will indicate a breakdown of the resistance area and continued growth of the Bitcoin rate with a potential target at 64505. Confirmation of the fall in the price of the asset will be a breakdown of the support area with the price fixing below 44455.
Bitcoin Forecast BTC/USD December 16, 2021 suggests an attempt to test the resistance level near the area of 50105. And further, the cryptocurrency will continue to fall with a potential target at 36405. An additional signal in favor of the Bitcoin rate decline will be a test of the resistance line on the relative strength index (RSI). Cancellation of the cryptocurrency fall option will be a strong growth and a breakdown of the 56405 area. This will indicate a continued rise with a potential target above the 64505 area.
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