{"id":358508,"date":"2023-12-14T02:00:59","date_gmt":"2023-12-13T20:30:59","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=358508"},"modified":"2023-12-13T14:59:16","modified_gmt":"2023-12-13T09:29:16","slug":"bitcoin-prices-fall-8-in-five-days-what-about-the-50k-predictions","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/bitcoin-prices-fall-8-in-five-days-what-about-the-50k-predictions\/","title":{"rendered":"Bitcoin prices fall 8% in five days &#8211; What about the $50k predictions?"},"content":{"rendered":"<p><i>Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer\u2019s opinion.<\/i><\/p>\n<ul>\n<li><em>Bitcoin briefly held the $43k zone as support.<\/em><\/li>\n<li><em>The swift drop that followed on 11 December showed that prices could be attracted to the large liquidity pools beneath $40k.<\/em><\/li>\n<\/ul>\n<p>Bitcoin [BTC] registered sizeable gains in recent weeks, but the foray past $40k could have been a liquidity grab. The reversal at the $44.7k mark could highlight a local top after BTC bulls&#8217; inability to defend a critical demand zone.<\/p>\n<p>A recent <a href=\"http:\/\/ambcrypto.com\/bitcoin-to-fall-to-38k-the-case-for-this-price-prediction-is\/\" target=\"_blank\" rel=\"noopener\">AMBCrypto<\/a> report noted that the $38k region could serve as support in the coming days. Technical analysis showed that a deeper drop could arrive, but it need not alarm long-term investors yet.<\/p>\n<h4><strong>The breakout past the triangle pattern encouraged euphoria<\/strong><\/h4>\n<figure id=\"attachment_358541\" aria-describedby=\"caption-attachment-358541\" style=\"width: 1940px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/12\/PP-1-BTC-price.png\"><img decoding=\"async\" class=\"size-full wp-image-358541\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/12\/PP-1-BTC-price.png\" alt=\"Bitcoin bulls fail to defend the $42k level, where are prices predicted to go next?\" width=\"1940\" height=\"1099\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/12\/PP-1-BTC-price.png 1940w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/12\/PP-1-BTC-price-300x170.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/12\/PP-1-BTC-price-1024x580.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/12\/PP-1-BTC-price-768x435.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/12\/PP-1-BTC-price-1536x870.png 1536w\" sizes=\"(max-width: 1940px) 100vw, 1940px\" \/><\/a><figcaption id=\"caption-attachment-358541\" class=\"wp-caption-text\">Source: BTC\/USDT on TradingView<\/figcaption><\/figure>\n<p>In November, BTC faced strong resistance at the $38k mark but continued to form a series of higher lows. This led to the formation of an ascending triangle pattern with the trendline support (green) being invalidation.<\/p>\n<p>A breakout past $38k was followed by a rally that reached $44.7k on 8th December just a week later.<\/p>\n<p>Since then, the bullish waves have receded. AMBCrypto&#8217;s analysis of the weekly chart of Bitcoin showed that the $41k-$43k region was significant since it had served as resistance in Q1 2022.<\/p>\n<p>In the past week, BTC was able to climb past this resistance and retest it as support for a brief moment before crashing beneath this zone.<\/p>\n<p>In doing so, it left fair value gaps which would likely serve as resistance upon the next test. At press time, the market structure of BTC was bullish on the one-day chart and would stay that way till the $36.7k level was broken.<\/p>\n<h4><strong>The round number levels could be critical for traders and investors<\/strong><\/h4>\n<figure id=\"attachment_358540\" aria-describedby=\"caption-attachment-358540\" style=\"width: 1866px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/12\/PP-1-BTC-hyblock.png\"><img decoding=\"async\" class=\"wp-image-358540 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/12\/PP-1-BTC-hyblock.png\" alt=\"Bitcoin bulls fail to defend the $42k level, where are prices predicted to go next?\" width=\"1866\" height=\"1027\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/12\/PP-1-BTC-hyblock.png 1866w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/12\/PP-1-BTC-hyblock-300x165.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/12\/PP-1-BTC-hyblock-1024x564.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/12\/PP-1-BTC-hyblock-768x423.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/12\/PP-1-BTC-hyblock-1536x845.png 1536w\" sizes=\"(max-width: 1866px) 100vw, 1866px\" \/><\/a><figcaption id=\"caption-attachment-358540\" class=\"wp-caption-text\">Source: <a href=\"https:\/\/hyblockcapital.com\/liquidationlevel-heatmap\" target=\"_blank\" rel=\"noopener\">Hyblock<\/a><\/figcaption><\/figure>\n<p>Psychological support and resistance levels at round numbers are not a new phenomenon, and this was true for BTC as well. AMBCrypto&#8217;s analysis of Hyblock data underlined the importance of the $35k, $40k, and $45k levels.<\/p>\n<p>The $39.6k-$40k region has a decent chunk of estimated liquidation levels, with even more piled up in the $44.9k-$45.7k zone.<\/p>\n<hr \/>\n<p style=\"text-align: center;\">Read <a href=\"http:\/\/ambcrypto.com\/predictions\/bitcoin-price-prediction\" target=\"_blank\" rel=\"noopener\">Bitcoin&#8217;s [BTC] Price Prediction<\/a> 2023-24<\/p>\n<hr \/>\n<p>Beneath $40k, there were several levels of importance. The liquidation levels just above $35k were very likely to attract BTC to it should the king coin plunge below the $39k region.<\/p>\n<p>Even after such a seemingly brutal drop, Bitcoin would retain its bullish structure on the higher timeframe charts. This was because the $35.3k level was an important support from just a month ago.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin showed a good chance that it could drop below the $40k level in the coming days.<\/p>\n","protected":false},"author":57,"featured_media":358566,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[41,35,360,18,66,3,23,4,20],"tags":[],"class_list":["post-358508","post","type-post","status-publish","format-standard","has-post-thumbnail","category-analysis","category-bitcoin-news","category-btc-trading-view","category-hide-cryptopanic","category-new-news","category-news","category-no-home","category-social","category-trading-view"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Bitcoin prices fall 8% in five days - What about the $50k predictions? 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