Bitcoin (BTC) has prepared a fight with the main price moving average (MA) trend on December 19 with time before a strong close in 2021.
BTC / USD 1 hour chart (Bitstamp). Source: TradingView
“Vote for us to jump in and stay great”
Cointelegraph Markets Pro and TradingView data show that as of December 19, BTC / USD was trading at $ 47,000, still strong within the set range.
This price is currently the location of Bitcoin’s one -year MA trend line, an important historical line on the sand that has allowed for significant growth if BTC / USD holds it as support.
“The 1 -year MA has historically been a fairly significant bull / bear bitcoin level, and now we’re taking it,” commented Philip Swift, creator of data assets in the Look Into Bitcoin chain.
“I voted us to jump in and stay put.”
1 week BTC / USD (Bitstamp) chart candlestick with a 52 week MA. Source: TradingView
The recovery will still leave plenty of room for the recovery to set a year -end closing price albeit slightly in line with previous bullish expectations.
Among them is model maker PlanB, which last weekend admitted that the $ 100,000 goal by 2021 is unlikely to be achieved.
He added that he would not let go of his example, which remains valid despite recent events.
No Santa Cathedral for macro this year.
The remarkable end of 2021 also affected the traditional market, while the classic “Santa Collection” was not seen last week.
Related: Analysts list 21 factors that require a higher bitcoin price, but only 4 bearish signals
Comments from the U.S. Federal Reserve have boosted productivity temporarily, but overall progress has been weak since the beginning of the year.
“It seems the market isn’t hosting a regular Santa’s Assembly,” said market columnist Holger Tschapitz.
“Global stocks lost $ 1.8 trillion this week at the mkt limit as investors reacted to the Fed’s aggressive turn, the rise of the Covid case and the emergence of 2022 with already high estimates. Still $ 118 trillion, or 140% of world GDP. ”
The short -term outlook is no longer favorable, as the omicron variant of the coronavirus causes a new economic downturn that will continue until the new year.