Before jumping to the price prediction, let’s take a look at today’s BTC market status. At the time of writing (12/24/2022), the Bitcoin price is $16,838. Bitcoin has a market cap of $324,018,981,483, and a daily trading volume of $14.1 billion is down by 15% compared to yesterday. Furthermore, the circulating supply amounts to 19.2 million coins which accounts for 92% of the max supply.
Based on technical market analysis, Bitcoin is consolidating, and the candles are weak at this point. If Bitcoin breaks above $17,000, the price will reach the $17,500 resistance level. On the other hand, in case the price decreases and goes below $16,500, it will probably reach the support level of $16,320.
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