Faith in the so-called “Christmas ray” began to fade again. Bitcoin (BTC) I managed to jump shortly before Christmas, which made the race really good rising seem. It gave hope that we might still see sprint sprints at the end of the year. However, Bitcoin During the Christmas period the price seems to have some problems to hold. However, we see market fears easing further and hope for a resumption of the rally has not disappeared yet.
The Bitcoin Index for Fear and Greed is 37. Fear
Current Price: $50.525 pic.twitter.com/eJjLhIQsm1
Bitcoin Fear and Greed Indicator December 26, 2021
Bitcoin loses steam during the Christmas rally
From Bitcoin price It seemed to hold about $51,000 on Christmas morning, but then slowly started losing momentum and then hovered between $50,700 and $51,000. By Christmas Eve, Bitcoin lost ground and then fell to $50,400.
Bitcoin made big bounce, bounce. The price rose to $51,400, up 2% in less than an hour. Then it looked like Bitcoin had reached around $51,000 again the support to find. However, in the middle of the night, the price lost its momentum again and then fell to $50,500. However, Bitcoin failed to hold here this morning as well, then suddenly dropped to $49,500. It seems that the decline was accompanied whales who are still making some profits.
Bitcoin fell again this morning through the psychological barrier of $50,000. Bitcoin broke that barrier for the first time in two weeks last Thursday. This has raised hopes for the so-called Christmas March. However, we have already warned on Crypto Insiders that Bitcoin may need an additional boost and first have to get $53,000-$54,000 to really talk about a breakout and trend reversal.
So it is still possible for Bitcoin to remain trapped in this range for a longer period. However, Bitcoin may now be top low A test against a bottom on Thursday, just before bitcoin jumped, and against last Monday, when bitcoin briefly dropped below $46,000. Then Bitcoin may also become a file highest height can test.
Bitcoin is slowly grabbing $50,000 at the time of writing, although trading volume is still low, but that’s not surprising at Christmas.
– Matthew Hyland (@Parabolic_Matt) December 25, 2021
Bitcoin Analysts Still Optimistic
Regardless, most crypto analysts remain bullish on Bitcoin in the medium term. The market still looks very convinced that we are in a bull market and we will see another strong rally. If it doesn’t start this year, maybe early next year.
If this breakout signal is confirmed tomorrow, new highs for BTC dollars In sight. I collected all my thoughts in this Christmas gift. Catch my day # bitcoin Free report here 👉https://t.co/No9JJlEMBx pic.twitter.com/0R6mejhZvd
– CRYPTO₿IRB (crypto_birb) December 25, 2021
BTC dollars to update:
Perps’ funding remains somewhat positive. The recipe for shorting is in place if financing declines negatively with a large increase in open interest with a stable margin.
Expect more chopping/consolidation for now. pic.twitter.com/hnCeiLEU4k
– Dylan LeClair 🟠 (@DylanLeClair_) December 26, 2021
Support over 54K BTC dollars I still need, or am still looking to the green box for support. It could drift higher due to the size of the vacation, but I think it’s probably limited in scope. https://t.co/Zfc4iQHrJa pic.twitter.com/B1kSTShVdE
– Steve ⚡ (@decodejar) December 26, 2021
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