The arrival of December brings with it the hope and joy that comes with the upcoming Christmas and other holidays. These festivities often manifest in the stock and crypto markets as a leg up, otherwise known as a ‘Santa Claus rally’. Will bitcoin’s price break out of the current resistance zone to give bullish investors a holiday gift?
And if there is no Santa Claus rally in legacy and we follow that chart, I think we might actually (and finally) see 14K in $BTC. Nothing set in stone at all. FOMC might be a breeze. Putin may have a heart attack. But it's something you need to consider as a possibility. pic.twitter.com/k79EihefiU
— HTL-NL (@htltimor) December 5, 2022
The holiday sentiment has not made itself clear in the stock markets or crypto markets yet, unfortunately. BTC is currently trading above $17,000 and is up by 0.3% on the day after being rejected below $17,400, while US stock indexes are down by 0.98% to 1.36% so far today.
However, BTC’s support of the fib 0.236 level was held over the weekend and things are looking good for Bitcoin and the cryptocurrency market short term if the leading crypto can hold this support level. However, if the crypto market succumbs to the wider risk market sentiment, Santa Claus may not be coming to town for bullish investors after all.
Bitcoin Price Prediction and Technical Analysis
Leading Indicators – RSI and MACD
After spending almost a month below an RSI of 50, Bitcoin’s RSI has risen to 51.49 and is looking to reclaim this level today. If it closes above RSI 50, this would be the first indication that BTC is finally reversing direction.
Currently, the MACD is also looking promising, with a bullish crossover and both moving averages moving upwards while steadily widening the gap between one another as exhibited by the histogram.
Support and Resistances
Fib level 0.236 held at $16,800 over the weekend, meaning that this area, including the previous resistance point of $17,000, is now acting as a support in the event of a failed breakout.
If we plot an extended Fibonacci level for the recent price swing, it reveals that there is resistance at $17,700. This is in confluence with the daily EMA50 and a previous resistance back on November 10.
It’s still early in the month so if Bitcoin and the wider crypto markets can’t hold their recent gains, it’s still possible to see a rally closer to the end of the month, but either way, be cautious, as always.
In preparation for either a bearish or bullish scenario it’s wise to diversify your portfolio beyond BTC into some lower-cap gems, as well as some projects with strong fundamentals that are still in presale.
Other Coins to Consider if You Want to Ride the Potential Bullish Holiday Wave
Dash 2 Trade (D2T)
Dash 2 Trade is an upcoming social trading platform that will offer features not seen before in the crypto world. This includes access to trading signals, on-chain indicators and social sentiment scoring, a pre-sale token listing alerts system, and much more.
The D2T token is required to use all the platform features Dash 2 Trade offers. The company’s pre-sale deeply discounts the tokens, with 96% sold just in its third stage. It has amassed $8.42 million from sales thus far. In its fourth stage, prices will increase by $0.02 per token, new price: $0.0533 up from original sticker at $0.0513 .
IMPT.io isn’t your typical carbon credit platform–not only can users buy and invest in credits, but they’re also rewarded for “retiring” them. After a user burns their credits on IMPT.io, they receive unique NFT collectibles created by artists as added encouragement to be environmentally friendly and join the fight against climate change.
The platform will give users a way to track their progress in making an impact through ranks and levels. IMPT.io points, the rewards that users receive for their contribution to positive climate change, will be given out for different activities on the platform – from referring others to retiring carbon credits.
The IMPT token is the native token of the project, and it’s currently available for presale. The platform has raised nearly $14.2 million and each token is now worth $0.023. The overwhelming success of the presale has led IMPT to end its token sale on December 11.
Robot Era (TARO)
In RobotEra, you design your own planet in the Metaverse with robot companions that help you rebuild the planet Taro after a disaster. The more land plots you claim, the more valuable your piece of the metaverse becomes. This game is perfect for anyone who likes being creative and enjoys building virtual worlds.
Each month, 250,000 users trade NFTs on the OpenSea2021 platform
Did you know? – You can trade your own NFTs on the #RobotEra marketplace
Don't miss out! Learn more about #RobotEra ⬇️https://t.co/UJ3inomU89 pic.twitter.com/H5LDEv3en5
— RobotEra (@robotera_io) December 4, 2022
There are two ways to generate revenue in RobotEra: active and passive. You actively earn money by completing quests, whereas you passively generate income through community activities such as hosting concerts or planting trees. Lbank Labs has supported the program with both funding and advice to ensure its success.
Since RobotEra’s pre-sale began on November 9, it has been one of the most sought-after presales. The metaverse’s native currency is TARO, which can be bought using ETH or USDT in the presale. The price will increase from $0.020 to 025 at the end of the first presale. As of writing, RobotEra has raised more than $368,000.
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IMPT - New Eco Friendly Crypto
- Carbon Offsetting Crypto & NFT Project
- Industry Partnerships, Public Team
- Listed on LBank, Uniswap
- Upcoming Listings - Bitmart Dec 28, Gate.io Jan 1st
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