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Bitcoin price forecast for today, December 16: BTC/USD falls below $17K

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The bitcoin price forecast reveals that bitcoin is once again falling below $17,000 and the bearish move could be extended to $16,000.

Bitcoin forecast stats data:

  • Bitcoin price now – $16,865
  • Bitcoin market cap – $324.5 billion
  • Circulating Bitcoin Supply – 19.2 Million
  • Total bitcoin supply – 19.2 million
  • Bitcoin Coinmarketcap Ranking – No. 1

BTC/USD Long-Term Trend: Range (Daily Chart)

Key levels:

Resistance levels: $20,000, $22,000, $24,000

Support levels: $14,000, $12,000, $10,000

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Bitcoin / US Dollar It failed to clear the $18,000 resistance level as the royal currency made a bearish correction. At the time of writing, bitcoin price is showing bearish signs and it might start a new decline in the upcoming sessions. However, if the bulls fail to protect the $17,000 support, there is a risk of a significant decline. In the mentioned scenario, the price might decline towards the $16,000 support area in the near term.

Bitcoin Price Prediction: Bitcoin (BTC) may drop below $16,000

The Bitcoin price It swings at $16,865 with an intraday loss of 2.84%. Looking at the daily chart, the prevailing trend is bearish with increasing volatility as the first digital asset might consolidate in a bearish flag pattern. Meanwhile, the collapse below the 9-day and 21-day moving averages is likely to continue in the direction of the previous trend. In this case, BTC/USD is expected to decline and cross below the lower boundary of the channel to reach the critical support levels at $14,000, $12,000, and $10,000.

However, if Bitcoin price returns above the moving averages; The price could rise towards the nearest resistance at $18,000. Another upward move could push the price towards the $20,000, $22,000, and $24,000 resistance levels. The RSI (14) technical indicator is showing a downward movement, which indicates that the market may continue to decline.

Medium-term trend for BTC/USD: Range (4-hour chart)

According to the 4-hours chart, bitcoin price is declining to touch the $16,852 support, but it is likely to cross below the lower boundary of the channel to increase the bearish move. Meanwhile, if the price heads to the downside, it could reach the $16,000 support level and below.

BTCUSD – 4 hour chart

Moreover, if the bulls push the coin above the 9-day and 21-day moving averages, bitcoin price could revisit the $18,000 resistance level and above. For the time being, the market may continue to trace downward trends or it may witness slight upward trends if the RSI (14) crosses the 40 level.

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BNT/USD is trading near the $0.50 resistance

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The Bancor price prediction shows that BNT is crossing the 9-day and 21-day moving averages while the coin is taking off to the upside.

Bancor Prediction Statistics Data:

  • Bancor price now – $0.34
  • Bancor’s market capitalization is $55.8 million
  • The circulating supply of Bancor – 162.5 million
  • The total supply of Bancor – 162.5 million
  • Bancor Coinmarketcap Ranking – #287

BNT/USD market

Key levels:

Resistance levels: $300, $310, $320

Support levels: $130, $120, $110

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BNTUSD – daily chart

BNT / USD It is currently trading at $0.345 after touching a daily high of $0.490, and is likely to return above the 9-day and 21-day moving averages. However, in case the buyers can push the price above the $0.50 resistance level, then the daily candlestick may close above this level, and the price may rise towards the upper boundary of the channel.

Bancor Price Prediction: Bancor is preparing for an upward movement

According to the daily chart, the Bancor price It is moving near the $0.40 resistance level as the coin is preparing for additional gains. The technical indicator’s RSI (14) is also moving to cross above the 50 level, where the signal line is pointing up to signal a buy signal.

However, if buyers are able to push the price and hold it above the 9-day and 21-day moving averages, Bancor price could rise towards the upper boundary of the channel to reach the potential resistance levels at $0.50, $0.55, and $0.60. While crossing below the lower border of the channel, it could lift the currency to the support levels at $0.25, $0.20, and $0.15, respectively.

Against Bitcoin, Bancor is following a bullish rally, and it could swing higher to cross above the upper boundary of the channel that could identify the resistance at 2400 SAT and above. On the other hand, if the market price crosses the lower boundary of the channel, it may reach the support level of 1800 SAT and below.

BNTBTC – Daily Chart

However, the technical indicator’s RSI (14) is currently moving to cross above the 50 level as the signal line is pointing north to confirm the upward move. Moreover, any further upward movement may create additional gains above the channel.

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DYDX/USD could rise above $1.20

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Since the coin starts the upward movement towards the upside, the dYdX price forecast is likely to move steadily inside the channel.

dYdX prediction stats data:

  • DYDX price now – $1.10
  • DYDX market capitalization – $72.7 million
  • Circulating supply of DYDX – 65.5 million
  • Total supply of DYDX – 1 billion
  • DYDX Coinmarketcap Rank – #198

DYDX/USD Market

Key levels:

Resistance levels: $2.00, $2.20, $2.40

Support levels: $0.50, $0.30, $0.10

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DYDXUSD – daily chart

DYDX/USD is likely to cross above the 9-day and 21-day moving averages as the currency begins its upward movement. in the past few days, dYdX price Struggles to cross over to the positive side. According to the daily chart, the RSI (14) technical indicator moved to cross above the 40 level, confirming the bullish movement of the currency.

dYdX Price Prediction: DYDX is ready for an uptrend

the dYdX price It is currently moving north. If the currency continues its upward movement, the bulls may cross above the 9-day and 21-day moving averages, which could reach the resistance levels at $2.00, $2.20, and $2.40. At the time of writing, DYDX/USD is showing a slight bullish movement on the daily chart.

Conversely, if the coin slips below the lower boundary of the channel, it may bring the coin back to the $0.50, $0.30, and $0.10 support levels, respectively. Meanwhile, long-term buyers should not be alarmed by the small impact down the road, as the future of DYDX is assured as evidenced by the technical indicator’s RSI (14).

Against Bitcoin, dYdX price is hovering below its 9-day and 21-day moving averages as the coin is poised for an upward move. The technical indicator’s RSI (14) also confirms the upward movement as the signal line encounters the 40 level. On the contrary, a potential downside move could emerge if the market price crosses below the lower boundary of the channel, which could reach the support level 200 SAT and below.

DYDXBTC – Daily Chart

Meanwhile, any further bullish move above the moving averages could push the coin to the 1200 SAT resistance level and above, and this could take the coin to a new high, and the market could remain in the bullish zone.

But, Dash 2 Trading It gives you the ability to improve your trading and scalping profits with effective crypto trading recommendations, automated trading, and analytics features. There is a D2T token pre-sale going on and time is running out. The launch of the pre-sale dashboard is coming soon as the product developer is ahead of schedule. To date, the prequel has raised nearly $12 million.

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SBF to Enter Plea Deal, Mango Exploiter Arrested, Celsius News: Hodler’s Digest, Dec. 25-31

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