Price Analysis

Bitcoin Price Prediction: Will BTC Continue Its Downfall For The Coming Week

Bitcoin price prediction: A high momentum breakdown from the $16825 and ascending trendline leads the Bitcoin price to prolong correction
Published by
Bitcoin Price Prediction: Will BTC Continue Its Downfall For The Coming Week

Bitcoin price prediction: On December 16th, the Bitcoin price breached two crucial support of $16825 and the ascending trendlines for an inverted flag pattern. Losing this support intensifies the ongoing selling pressure in the market, suggesting the BTC price may witness deeper correction in future support. 

Advertisement

Key points

  • The Bitcoin price is poised for a 6.5% drop following the inverted flag pattern breakdown.
  • The daily-RSI slope reenters the negative region.
  • The intraday trading volume in Bitcoin is $10.3 Billion, indicating a 49% loss.

Source-Tradingview

Amid the recent uncertainty surrounding Binance, the crypto exchange, and speculation that the US Federal Reserve will tighten the interest rates, the crypto market witnessed significant selling in the last few days. 

As a result, the Bitcoin price tumbled 6.5% in the last four days and currently trades at the $16696 mark. However, this downfall breached the support trendline of a bearish continuation pattern called an inverted flag. In theory, this bearish pattern accelerates the selling pressure in the market after providing a minor pullback on the upside.

Thus, on December 16th, a long red candle pierced the support trendline, indicating the replenished bearish momentum. Today, the BTC price is 0.5% down trying to follow up on the support breakdown.

Therefore, if the selling pressure persists, the Bitcoin price may drop 6.5% down to hit the $15600 support.

However, the $16125 level stands as significant in-between support where buyers could try to wrestle for trend control.

Advertisement

Technical Indicator

RSI: the RSI indicator measuring the speed and magnitude of the coin’s recent price reflects the strength in price behavior. Thus, with the recent drop, the RSI sloped nosedive below the neutral line, and 14-SMA altogether indicates the increasing underlying bearishness in the market.

Bollinger band: the coin price moving below the indicator’s midline suggest the sellers are controlling the current price action.

Bitcoin Price Intraday Levels

  • Spot rate: $16689
  • Trend: Bearish
  • Volatility: Low
  • Resistance levels- $16825 and $17300
  • Support levels- $16125 and $15900
Advertisement

Share
Brian Bollinger

From the past 5 years I am working in Journalism. I follow the Blockchain & Cryptocurrency from last 3 years. I have written on a variety of different topics including fashion, beauty, entertainment, and finance. Reach out to me at brian (at) coingape.com

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and 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.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • Bitcoin News

Michael Saylor Reveals Strategy’s Endgame To Accumulate $1 Trillion Bitcoin For Its Treasury

According to Strategy executive chairman, Michael Saylor, the company has an ambitious vision for its…

October 1, 2025
  • Bitcoin News

CZ Hints at ‘Uptober’ Bitcoin Rally Following Green September

Binance founder Changpeng "CZ" Zhao has hinted at another potential 'Uptober' rally as he alluded…

September 30, 2025
  • Bitcoin News

BlackRock Now Holds 3.8% of Bitcoin Supply; Bloomberg Analyst Explains Why It’s ‘Extraordinary’

The world's largest asset manager, BlackRock, now holds 3.8% of the total Bitcoin supply through…

September 30, 2025
  • 24/7 Cryptocurrency News

KuCoin Secures ISO 27701 Certification, Boosting User Trust and Privacy

KuCoin has become certified on the ISO 27701 and SOC 2 Type II levels. This…

September 30, 2025
  • 24/7 Cryptocurrency News

Breaking: SEC Moves To Allow On-Chain Stock Trading Alongside Crypto Amid Tokenization Push

The U.S. Securities and Exchange Commission (SEC) is reportedly moving to approve proposals that will…

September 30, 2025
  • 24/7 Cryptocurrency News

Analyst Eyes Solana ATH as 21Shares’ SOL-Focused Jupiter ETP Launches on Swiss Exchange

A crypto expert believes that Solana could reach a new ATH due to its improving…

September 30, 2025