TL;DR Breakdown
- Bitcoin price prediction expects a steady rise to $19,600
- Bullish momentum set towards ATH once more
- Bearish activity sparse and non-existant
- Volatility levels decreasing as BTC price increases
- BTC dominance on the rise as price pumps
Bitcoin (BTC) has remained perseverant since testing the All-Time-High (ATH) just over two weeks ago in late November. As the second half of December approaches, BTC price pumps again.
Seeking the Christmas boost that all Bitcoin HODLers have been waiting for, the BTC price pump on the 12th of December has revitalized hope for BTC supporters. As green candlesticks continue to fill the trading charts, hopes for the ATH’s historical breaking seem increasingly on the rise.
The current price of BTC at the time of writing is $19,310 – up 0.21 percent on the opening price on the day.
Use the oscillator below to check what role BTC might play in your portfolio.
Bitcoin price prediction: 1-Day chart overview
The 1-Day chart overview depicts BTC price on the increasingly steady rise with little bearish opposition.
Using the Relative Strength Index (RSI), we can discern that BTC price has yet to reach overbought levels on a day-to-day basis. This would indicate that BTC price should continue unhindered toward $19.600 over the next few days.
Observing the Historical Volatility Index (HV), we can see that volatility remains low and continues to decrease despite BTC price increasing. This indicates bullish momentum will continue throughout the week ahead – perhaps even through most of late December.
Bitcoin price prediction: 1-Week chart overview
Observing the 1-Week chart overview, a different trend can be seen. As the RSI level climbs above 80 at this time, it is highly suggestive that the week will conclude with a fall in BTC price.
Although this directly contradicts the previous 1-Day chart, considering that volatility remains consistently low, the BTC price hike should remain robust and persevering.
Volume levels remain mostly bullish, but seem to be on a steady rise as this week remains bullish as of Tuesday the 15th of December, 2020.
Bitcoin price prediction: volatility overview
The BTC/USDT volatility chart looks promising for bullish optimists as BTC price rises, volatility continues to decrease. This alone depicts the path BTC is following as the path of least resistance.
Decreasing volatility levels this close to Christmas might deliver presents early if BTC price closes above $19,500 by the end of the week.
Bitcoin price prediction conclusion: BTC price to steadily retest $19,888 resistance level by the 21st of December 2020.
To conclude this price prediction, the resistance level of $19,888 remains a goal set to break for bullish traders as BTC popularity accumulates into late December. In correlation with low volatility levels and a moderate RSI of 59, Bitcoin looks to remain bullish slow, but consistently into 2021.
Following the chart’s prediction arrows, BTC price is expected to rise and fall in a progressively ascending manner. If this pattern is even half-right, we will likely see a new ATH before the week is out.
As always – trade safely, carefully, and only trade what you can afford to lose.
