Bitcoin (BTCUSD) Price Is Going up

Bitcoin (BTCUSD) Price Forecast: December 11

The BTCUSD pair is currently going up. The bulls are in charge of the market and may push the crypto price further if the current support at $91,579 holds. However, if the bullish voyage persists, the crypto’s price may continue its upside moves to reach a $94,172 prior peak supply and extend to meet the upper resistance level of $120k, leading to a mega pump as demand for the Bitcoin platform continues to soar.

Key Levels:
Resistance Levels: $91,000, $92,000, $93,000
Support Levels:    $82,000 $81,000, $80,000

BTC (USD) Long-term Trend: Bullish (4H Chart)

Upward pressure still dominates the BTCUSD pair on the higher time frame. The coin price is trading above the moving averages, suggesting a bullish momentum. Thus, the recent market structure has favored the bulls.
The bulls’ pressure on $92,416 in the last session has sustained the crypto’s price above the resistance level lately.

The coin price found reliable resistance at $92,579 above the EMA-50 after completing the downside move at $91,579, with the 4-hourly session resuming today.

Thus, it is very likely that the bulls will continue rising as we are seeing a bullish correction.

The BTCUSD price may continue rising, as the daily stochastic points upward.

With selling pressure diminished, the recovery target in the coming days may be the upper resistance at $120k, creating excitement among holders.

BTC (USD) Short-term Trend: Bullish (1H Chart)

Buy traders are actively driving short-term order flow due to a weak bearish presence.
Just few minutes of the opening the 1-hourly chart, the bulls triggered momentum to the $92,517 resistance value above the moving averages.

If Bitcoin’s price sustains above the current resistance level, the resulting rally may surpass the $94,486 prior peak barrier and extend to reach the $120k psychological level at the upside in the days ahead on the lower timeframe.

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