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Weekly Bitcoin Technical Analysis (December 27th, 2021)
research.stc.capital

Weekly Bitcoin Technical Analysis (December 27th, 2021)

Bentley
Dec 27, 2021
Share this post
Weekly Bitcoin Technical Analysis (December 27th, 2021)
research.stc.capital

History for the week (From 20th-26th/Dec, 2021)

Opening price: $46,681, closing price: $50,775 => Spread is $3322, up about 8.8%).

Highest price: $51,810, lowest price $45,558 => Spread is $6252 (According to data from Binance exchange).

Technical Analysis

BTC/USDT weekly chart

BTCUSDT weekly chart - Tradingview

On the weekly chart, all signs of a long-term uptrend are still intact. The price closed forming the bullish engulfing candle of the previous 2 weeks. This positive sign brings optimism to the market after the panic selling at the beginning of this month. Whether Bitcoin has ended its correction to enter a strong bull phase, we need to move to a shorter time frame for a more accurate analysis.

BTC/USDT 1D chart

BTCUSDT daily chart - Tradingview

The RSI and MACD are supporting the uptrend while the bands tighten during a period of low volatility. The probability is that Bitcoin price will move sideways in the next few days with a range between ~$52,000 and ~$48,600 or between ~$52,000 and ~$45,500. If there is a close above 52,000, the Bitcoin price can break above the resistance area at ~$55,000.

Goodluck.

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Weekly Bitcoin Technical Analysis (December 27th, 2021)
research.stc.capital
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