BTC, ETH and XRP Price Analysis: Fed Rate Panic Threatens Cryptocurrency Momentum

Bitcoin would then likely reclaim $108,365 and rise above it, mainly because it was trending within an upward parallel channel.

On December 19, the cryptocurrency tested the lower trend line of the channel as support, and is now eyeing the 50 4-hour exponential moving average (4-hour 50 EMA; red wave) at around $102,590.

In doing so, the BTC price upside target for December appears to be located around the upper trend line of the channel at around $109,650.

BTC/USD weekly chart analysis – stability above $100,000 could mean a rise towards $150,000

Bitcoin’s rise above $100,000 faces resistance with overbought signals emerging, with the weekly RSI at 74 indicating a possible correction.

However, Bitcoin is holding above the 1.0 Fibonacci retracement level near the $101,700 area, which is an important support area. Staying above this level could lead to a push towards $150,000, which is the $2,618 Fibonacci target.