Bitcoin Price Prediction Daily (15-Dec-2022) Rejection at $18,000
How is Bitcoin (BTC) Looking Today?
Bitcoin is currently trading around the $17,700 mark and is still showing bullishness on the lower timeframes. As mentioned in our previous analyses, the price is now trading above the resistance at $17,400 and has gained bullish momentum on the lower timeframes. The price was trading below that level for weeks, and now BTC is finally getting a move on. The next target we are eyeing for Bitcoin is $18,000, which is a strong resistance area. Let’s take a quick look at the Bitcoin Price Prediction Daily (15-Dec-2022) to see where the price could be headed next in the immediate short term.
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Analyzing the Charts
If we take a look at the 1-hour charts for Bitcoin, the first thing we can notice is that the price is looking quite bullish. It seems to be forming higher highs and managed to break above $18,000 for a few hours.
However, the price still has not broken above $18,000 and is currently going sideways. Once Bitcoin manages to flip this level convincingly, the next target we will be eyeing for the crypto giant is the $18,600 mark.
The $18,600 level has significance because it has previously acted as the bottom for Bitcoin. It is likely that BTC will face strong Rejection here in the short term.
On the other hand, if the price rejects the $18,000 mark once again and drops below $17,400. The next immediate level we will be eyeing is the $17,000 mark.
Conclusion: Final Verdict on Bitcoin (BTC)
Bitcoin is currently looking a little bullish and is trying to break above the resistance at $18,000. The $18K region will be a strong resistance zone because this area has acted as major support for most of the year. It is likely that Bitcoin will retest the resistance at $18,600, and we can expect the price to reject this level in the coming days.
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