NewsletterBitcoin Price Analysis Jan 1: BTC Could Turn Bullish Above $3,800
Bitcoin price followed a bearish path below the $3,880 resistance against the US Dollar. BTC/USD needs to surpass the $3,800 resistance to move back in a bullish zone.
Important Points:
- Bitcoin price declined below the $3,800 and $3,760 support levels.
- BTC is following a major bearish trend line with resistance at $3,800 on the 2-hours chart.
- The price must break the trend line and $3,810 to move back in an uptrend.
Bitcoin Price Analysis
After a decent recovery from the $3,540 low, bitcoin price failed to gain momentum above the $3,900 resistance against the US Dollar. BTC/USD started a fresh decline and broke the $3,800 and $3,760 support levels.
The 2-hours chart indicates that the price topped near the $3,900 resistance level. Sellers took back control and pushed the price below the $3,840 and $3,800 support levels. There was also a close below the $3,800 the 100 simple moving average (2-hours).
More importantly, there was a break below the 50% Fib retracement level of the last wave from the $3,540 low to $3,900 swing high. However, the $3,650 support is currently acting as a solid support and preventing further declines.
The 76.4% Fib retracement level of the last wave from the $3,540 low to $3,900 swing high also acted as a support. Below $3,650, the price may continue to move down towards the $3,600 and $3,550 support levels.
On the upside, there is a solid resistance formed near the $3,800 and $3,810 resistance levels. There is also a crucial bearish trend line in place with resistance at $3,800 on the same chart.
Therefore, buyers need to push the price above the trend line and the $3,810 resistance levels to start afresh upward move. If there is a successful close above $3,810, the price may continue to move higher towards the $3,880 and $3,900 levels. The main resistance is near the $4,000 level where sellers may emerge.
Overall, bitcoin price is trading above the key $3,650 support. As long as the price is above the $3,650 and $3,600 supports, there could be an upside break above $3,800.
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Crypto Traders Increase Bets on Kevin Warsh After Trump Names Top Two Fed Chair Candidates
- This Top CNBC Trader Says He’ll “Never” Invest in XRP Despite Wall Street Adoption
- ‘Dead Like Kodak’: Software Engineer Slams SWIFT’s 5-Year Delay on Blockchain Plans
- Ripple Attracts $300M Institutional Bet as VivoPower Launches Korean Investment Vehicle
- Crypto Eyes Entry into Traditional Sports as Tether Bids $1B for Juventus FC
- Expert Predicts Bitcoin Price Crash to $75k as ETF Inflows Fall, Treasury Companies Plunge 83%
- HYPE Price Jumps 8% as Open Interest Hits $1.61B — Is $50 Next?
- Is Solana Price Poised for a +50% Bullish Rally? Here’s What to Expect
- Top 3 Price Predictions for Bitcoin, Ethereum, and XRP in DEC 2025
- Will Chainlink Price Break Toward $20 After 84K LINK Reserve Increase?
- XRP Price Target $3 as Spot ETFs Continue to See Inflows
