BlackRock, Nasdaq, and SEC officials held a second December meeting to address rule changes for the anticipated listing of spot Bitcoin ETFs.
BTC maintains a strong uptrend, indicating potential for continued upward movement.
Possibility exists for Bitcoin to gain momentum, surpassing the $45,000 mark.
According to Coingabbar Technical Analysis, On December 18th, BTC found support at $40,500 and initiated an upward trend.
The price encountered resistance around $43,500 but faced another obstacle, leading to a drop to $41,800.
Recent developments include discussions on Bitcoin ETF, BlackRock, Nasdaq meeting with the SEC, contributing to a rise in BTC.
Despite facing resistance, BTC breached the $43,500 hurdle and traded above $44,000 levels.
A bullish candle formed on the daily chart, and BTC broke and closed above the Symmetric Triangle pattern.
BTC is currently positioned close to the upper limit of the double bottom reversal range.
If BTC successfully closes above the channel, a new high is anticipated with a rally towards $50,000.
Conversely, if BTC fails to surpass $45,000, a sharp selling scenario may unfold, testing $42,000-$40,000 levels again.
KEY LEVELS :
RESISTANCE LEVEL : $44,200-$44,700
SUPPORT LEVEL : $43,300-$42,800
Disclaimer: Crypto is not regulated and can offer considerable risks. There may be no regulatory remedies available in the event of any losses resulting from price analysis. As a result, before engaging in any transactions involving crypto products, each investor must perform in-depth examination or seek independent advice.
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