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14.12.202118:08 Forex Analysis & Reviews: Trading signals for BITCOIN (BTC) on December 14 - 15, 2021: sell below $49,795 (200 EMA)

Exchange Rates 14.12.2021 analysis

BTC is trading below the 200-day EMA and oscillating within a downtrend channel formed since December 4. Yesterday Bitcoin fell to the low of 45,624. From this level, it is rebounding with 49,795 and 52,425 (21 SMA) as short-term targets.

It is probable that the current technical bounce of the BTC could push the price to the resistance zone of the 200 EMA. Around this zone, we would have a good opportunity to sell with targets -1/8 of Murray located at 43,750.

The eagle indicator has reached the extreme oversold zone which could be a sign that Bitcoin could have a recovery for the next few days. As long as it remains below the psychological level of 50,000, momentum and a false break will be considered as a correction to resume a downward movement.

On the contrary, a daily and decisive close above 52,425, where the SMA of 21 is located, could be a clear sign that Bitcoin would be facing a recovery and could rise to the level of 56,250 (1/8) and up to the resistance of 2/8 at 62,500.

Given that each time the US dollar is strengthening and the Fed is determined to contain the inflation that is increasing every day, this could be a headwind for cryptocurrencies. Since cryptocurrency crosses are trading against the dollar, a stronger dollar could weaken Bitcoin and we could see a drop to the psychological level of $ 30,000 in the medium term.

Our trading plan for BTC is to buy above 46,500 and wait for it to hit the level of 50,000, to sell again with targets towards 43,750. The eagle indicator is giving a positive signal. Therefore, we can take advantage of the technical rebound seen in these hours.

Support and Resistance Levels for December 14 - 15, 2021

Resistance (3) 52,125

Resistance (2) 49,481

Resistance (1) 47,553

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Support (1) 44,830

Support (2) 43,750

Support (3) 42,564

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A trading tip for BTC on December 14 - 15, 2021

Sell below 49,795 (200 EMA) with take profit at 43,750 (2-1/8) and 40,000, stop loss above 51,250.

*La presente analisi del mercato ha un carattere esclusivamente informativo e non rappresenta una guida per l`effettuazione di una transazione.

Dimitrios Zappas,
Analytical expert of InstaSpot
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