Bitcoin Price Analysis — December 19 (Daily Chart)
BTC remains restricted within a steep descending channel, as bulls hit another roadblock at 
48K this morning. If the benchmark cryptocurrency fails to retest and break the 48K mark over the coming hours, we could record yet another bearish continuation over the new week. That said, the primary target for bears is the 45K support. A break below that level would open the doors to 43K - 40K and cement a bearish bias into January for the benchmark cryptocurrency. On the flip side, only a sustained break above the 53K top can negate the current bearish bias.
Meanwhile, my resistance levels are at $48,000, $48,500, and $49,500, and my key support levels are at $46,300, $46,000, and $45,000.
Total Market Capitalization: $2.21 trillion
Bitcoin Market Capitalization: $893 trillion
Bitcoin Dominance: 40.3%
Market Rank: #1
48K this morning. If the benchmark cryptocurrency fails to retest and break the 48K mark over the coming hours, we could record yet another bearish continuation over the new week. That said, the primary target for bears is the 45K support. A break below that level would open the doors to 43K - 40K and cement a bearish bias into January for the benchmark cryptocurrency. On the flip side, only a sustained break above the 53K top can negate the current bearish bias. Meanwhile, my resistance levels are at $48,000, $48,500, and $49,500, and my key support levels are at $46,300, $46,000, and $45,000.
Total Market Capitalization: $2.21 trillion
Bitcoin Market Capitalization: $893 trillion
Bitcoin Dominance: 40.3%
Market Rank: #1
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