Bitcoin BTC/USD ends the trading week at 16825, continues to move as part of the fall and the downward channel. Moving averages indicate a bearish trend. Prices have gone down from the area between the signal lines, which indicates pressure from sellers of the asset and a potential continuation of the fall in asset quotes. At the moment, we should expect an attempt to develop a bullish correction in the price of the coin and a test of the resistance area near the level of 17405. From where we should again expect a rebound down and a continuation of the fall in the Bitcoin rate with a potential target below the level of 8445.
Bitcoin Forecast December 26 — 30, 2022
An additional signal in favor of the fall of BTC/USD quotes in the current trading week December 26 — 30, 2022 will be a rebound from the upper border of the descending channel. The second signal will be a rebound from the resistance line on the relative strength index (RSI). Cancellation of the Bitcoin fall option will be a strong growth and a breakdown of the area of 24705. This will indicate a breakdown of the resistance area and continued growth of BTC/USD quotes with a potential target above the level of 31255. The development of the downward movement will be confirmed by a breakdown of the support area and closing of quotes below the level of 15305.
Bitcoin Forecast December 26 — 30, 2022 suggests an attempt at the resistance area near the level of 17405. Then the cryptocurrency will continue to fall to the area below the level of 8445. An additional signal in favor of the fall of the Bitcoin rate in the current trading week will be a test of the trend line on the relative strength index (RSI). Cancellation of the option to reduce the quotes of the Bitcoin cryptocurrency will be a strong growth and a breakdown of the area of 24705. In this case, we should expect a continuation of the rise with the target at the level of 31255.
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