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Bitcoin BTC / USD Forecast for 12/30/2020

Bitcoin cryptocurrency, after a slight correction, again seeks to renew highs. At the moment, BTC / USD quotes are at around 27600.

The chart is located above the Ichimoku cloud, the fast signal line of the indicator broke through the slow one from the bottom up a few days ago. What says about the upward trend in Bitcoin.

The support level is the red line of the indicator at 26500.

The resistance level is the previous local maximum - 28300.

Bitcoin BTC / USD Forecast for 12/30/2020

If you mentally stretch the Fibonacci retracement levels on the Bitcoin chart, then you can pay attention to the already familiar 38.2% - 11.8% reversal pattern.

A 38% correction from the previous upward impulse has already taken place, but now the resistance level is 27700.

If the Bitcoin quotes cannot overcome the resistance level, the trend will reverse on the older timeframe, and the target of the downward movement in Bitcoin will be the support level 24500.

Thus, on Wednesday, December 30, we expect an attempt to update the local maximum for Bitcoin, as well as a correctional movement of the fall in the Bitcoin rate, with a target in the area of ​​24500.


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