The Bitcoin price has been struggling with top resistance since Wednesday, December 20, 2023: a range has formed between $43,500 and $44,500, and so far there have been three 4-hour candle closes below $44,200. On today’s trading day, the Bitcoin price is in a so-called range low. It is quite possible that bullish investors will first have to gather some liquidity before things can head towards the annual high. The Bitcoin trading volume has also decreased consecutively since Wednesday – are there any major market movements imminent?
The US economy is also optimistic. Economic growth for 2023 is 3 percent. Additionally, the SEC has contacted all ETF applicants to clarify that CashCreates applications will receive “priority.” There may also be approvals for ETF applications using the “in kind” model in the future, but more work is needed. In plain language, this means that those applicants who have not switched to “CashCreates” by the beginning of January are not included in the first wave of approval.
Bitcoin price: Important supports and resistances
Support levels: $43,400 / $43,000
Resistance levels: $43,860 / $44,400
All details in the video:
Over
Bastian Keller has been operating independently in the Forex market since 2015 and has been a full-time trader in the crypto market since 2018. He actively shares this expertise on various social media platforms, especially on his YouTube channel “Bitbull Trading”, with more than 36,500 subscribers.
In addition to his YouTube channel, he has already built a community with more than 4,000 active members. This offers both beginners and experienced traders the opportunity to improve their skills to a professional level. The focus is on operating profitably in the market in the long term, regardless of your location.
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