BTC Price Is Set to Break the $17K Hurdle

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Bitcoin Will Attain New Highs as BTC Price Is Set to Break the $17K Hurdle – December 23, 2022

BTC/USD has been fluctuating below the $17,000 resistance level as BTC price is set to break the $17K hurdle. The current price rebound, which began on December 20, has been repelled, as Bitcoin has resumed a sideways move below the resistance level. The appearance of Doji candlesticks with small bodies has exacerbated this.

Bitcoin Price Statistics Data:•Bitcoin price now – $16,826.79•Bitcoin market cap – $323,785,912,262•Bitcoin circulating supply – 19,241,806 BTC•Bitcoin total supply – $353,414,887,795•Bitcoin Coinmarketcap ranking – # 1

Resistance Levels: $50,000, $55, 000, $60,000 Support Levels: $25,000, $20,000, $15,000

Bitcoin’s (BTC) price is falling below the moving average lines. The largest cryptocurrency recovered on December 20, reaching a high of $17,066. The bullish momentum was broken when it reached the resistance of the 21-day line SMA. BTC price has been consolidating below the moving average lines for the past four days to break it.Coincidentally, Bitcoin is also challenging the $17,000 resistance level. Consolidation near a resistance level, it is commonly stated, increases the likelihood of a breakout. As the BTC price continues to retest the resistance zone, it will break above the moving average lines and the $17,000 resistance. Bitcoin will reach a high of $18,000. A break above the $18,000 resistance level will launch the market to new highs of $20,000 and $21,500. If buyers are unable to keep the price above the $18,000 high, Bitcoin will be forced to continue its range-bound movement.

Central African Republic Postpones the Listing of Sango Coin

The Central African Republic, the first nation in Africa to accept Bitcoin as legal tender, seems to be having difficulties with its investor-focused token, Sango Coin. Sango Coin’s listing on cryptocurrency exchanges will be delayed, according to the Central African Republic, because of the state of the market and marketing considerations. In the Telegram group for Sango, the update was made public. Sango Coin was introduced in July to raise close to $1 billion over the following 12 months. However, according to the Sango website, only $1.66 million worth of the coin has been sold thus far. The Central African Republic became the first African nation to legalize Bitcoin as money in April of this year. A plan to enable foreign investors to purchase citizenship for $60,000 worth of Sango Coins had also been previously announced by the nation. The nation’s highest court, however, rejected this initiative as unconstitutional in August.

BTC/USD – 4 Hour Chart

Bitcoin has remained stable above the $16,500 support level since the price rebound as BTC price is set to break the $17K hurdle. Bitcoin’s upward movement is hampered by resistance at $17,000 and moving average lines. If the moving average lines are rejected, the largest cryptocurrency will fall again. A break above the moving average lines will propel Bitcoin to new highs.

Bitcoin, on the other hand, has risen above the critical $16,000 support level. However, it has now surpassed the key $16,000 support level. Trading participants are waiting to see if Bitcoin’s price will fall below a critical support level. With the launch of Dash 2 Trade, traders will be able to halt the irrational buying and selling of Bitcoin. Dash 2 Trade gives you the tools you need to increase your trading and speculative profitability, including analytics, auto trading, and helpful crypto trading recommendations. There is currently a D2T token presale going on, but time is running out. The presale dashboard launch will occur soon because the product development is progressing ahead of schedule. Over $11 million has already been raised through the presale.

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