Share this article
$15K in Sight? Bitcoin Prices Gather Upside Traction
Having defended $13,000, bitcoin looks set to explore a move towards $15,000 levels in the next 24 hours.
Updated Dec 11, 2022, 1:52 p.m. Published Jan 15, 2018, 12:00 p.m.
Bitcoin looks set to explore a move towards $15,000 levels in the next 24 hours.
Having defended $13,000 on Friday, CoinDesk's Bitcoin Price Index rose to a high of $14,536 on Saturday before once more retreating to $13,051.59 yesterday. As of writing, bitcoin is trading at $13,727 levels – up 0.80 percent in the last 24 hours.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Meanwhile, data source OnChainFX says the world's largest cryptocurrency by market capitalization has depreciated by 11 percent on a weekly basis. The decline is being largely attributed to fears of cryptocurrency trading ban at South Korean exchanges – a possibility that is looking less certain after new statements from the government.
Despite those concerns, bitcoin still managed to defend the ascending trendline (drawn from Nov. 13 low and Dec. 22 low).
Further, it appears that money is being rotated out of the alternative currencies and back into bitcoin. For instance, the TRON token has depreciated by 31 percent in the last 24 hours. A look at the individual markets shows sharp losses in the TRX/BTChttps://www.binance.com/trade.html?symbol=TRX_BTC (TRON-bitcoin) pair. The decline across such cross-cryptocurrency pairs could limit the downside in bitcoin.
The price action analysis indicates scope for a move higher to the upward sloping 50-day moving average (MA) level of $14,690.
Bitcoin chart
The above chart (prices as per Coinbase) shows:
- BTC continues to defend the rising trendline (drawn from Nov. 13 low and Dec. 22 low).
- The 5-day and 10-day MAs slope downwards, while the 50-day MA favors the bulls.
- Triangle pattern (narrowing price range due to lower tops and higher bottoms).
View
- Repeated failure on the part of the bears to cut through trendline support adds credence to the bullish (upward sloping) 50-day and 10-week MAs, and could yield a rally to $14,690 (50-day MA) or even $15,000.
- Further gains will face resistance, courtesy of the bearish short-term moving averages (5-day and 10-day MAs).
- A close (as per UTC) above $16,000 (triangle resistance) would indicate the rally from Nov. 12 low of $5511.11 has resumed. Prices could then have potential to revisit record highs of $20,000.
- On the other hand, if prices close (as per UTC) below $12,500 (Dec. 30 low) bitcoin may be looking down towards $10,000–$8,000.
image via Shutterstock
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
XRP Ledger Upgrade Lays Groundwork for Lending, Tokenization Expansion
One of the amendments in the new release corrects an accounting error affecting Multi-Purpose Tokens (MPTs) held in escrow.
What to know:
- The XRP Ledger released version 3.0.0 of its server software, rippled, focusing on amendments, bug fixes and improving accounting accuracy and protocol extensibility.
- Operators must upgrade to the new version to maintain network compatibility because the update addresses ledger inconsistencies and prepares for future upgrades.
- Key changes include fixing token escrow accounting errors, enhancing consensus stall detection and tightening security measures, which are crucial for XRPL's expansion into tokenization and DeFi.
Top Stories
