Bitcoin (BTC) Price Analysis for December 23

The prices of most coins are rising today, according to CoinStats.

BTC/USD

The rate of Bitcoin (BTC) has increased by 0.61% since yesterday.

On the hourly chart, the price of BTC is in the middle of the local channel.

However, any sharp moves are unlikely to happen by the end of the day as most of the daily ATR has been passed.

A more positive picture is on the bigger time frame. If the bar returns to the $44,000 mark and fixes above it, the accumulated energy might be enough for a breakout followed by a test of the $45,000-$46,000 zone.

A similar situation is on the weekly chart. If the weekly candle closes above the previous bar peak, the upward move may continue to the $48,200 level.

Bitcoin is trading at $43,759 at press time.

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