{"id":9370,"date":"2022-12-25T08:17:46","date_gmt":"2022-12-25T08:17:46","guid":{"rendered":"http:\/\/cryptoheretostay.com\/?p=9370"},"modified":"2022-12-25T08:17:47","modified_gmt":"2022-12-25T08:17:47","slug":"btc-price-levels-to-watch-as-bitcoin-limps-into-christmas-under-17k","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=9370","title":{"rendered":"BTC price levels to watch as Bitcoin limps into Christmas under $17K"},"content":{"rendered":"<script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script>\n<p>Bitcoin (BTC) entered the Christmas holiday period unchanged at $16,800 as an eerie lack of volatility persevered.\u00a0<\/p>\n<p><em>BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView<\/em><\/p>\n<h2>Hopeful price target sees Bitcoin at $17,400\u00a0<\/h2>\n<p>Data from Cointelegraph Markets Pro and TradingView confirmed another day of an almost imperceptible range for BTC\/USD just below $17,000.<\/p>\n<p>The pair had struggled to break out despite multiple potential catalysts coming from United States economic data prints.<\/p>\n<p>With the holiday season ahead, a Santa rally appeared unlikely, while a lack of significant events to come further reduced the chances of flash volatility. <\/p>\n<p>In weekend analysis, however, Micha\u00ebl van de Poppe, founder and CEO of trading firm Eight, nonetheless reiterated the possibility of a step higher to near $17,500 should current levels hold.<\/p>\n<p>\u201cBitcoin still holding levels here as we flipped $16.750 for support,\u201d he told Twitter followers. <\/p>\n<p>\u201cIf that holds (and no sharp fall to $16.4K), I think we&#8217;ll still be able to see continuation to the upside to $17.4k.\u201d<em>BTC\/USD annotated chart. Source: Micha\u00ebl van de Poppe\/ Twitter<\/em><\/p>\n<p>Popular analytics account On-Chain College meanwhile released a list of key levels to watch in the short term, with most of these to the downside.<\/p>\n<p>They included realized price \u2014 the aggregate price at which the BTC supply last moved \u2014 along with balanced price, which expresses the difference between realized price and current spot price. The two tallies came in at $19,900 and $15,250, respectively on Dec. 23.<\/p>\n<p><em>BTC\/USD annotated chart. Source: On-Chain College\/ Twitter<\/em><\/p>\n<p>Fellow trader Crypto Poseidon conversely advised potential buyers to steer clear of the current range altogether.<\/p>\n<p>\u201cWhatever the reason, long-term purchases under $19k will waste a lot of time,\u201d he commented on the weekly chart. <\/p>\n<p>\u201cThere is 2 particular spot buy levels; above 19k or sub 12k.\u201d<\/p>\n<h2>Woo: Bear market may not outlast 2015<\/h2>\n<p>Eyeing where the current bearish trend could end, meanwhile, Willy Woo, creator of on-chain analytics resource Woobull, had some potential good news for long-term holders (LTHs).<\/p>\n<p><strong><em>Related:\u00a0Bitcoin low volume sparks BTC price warning as metric hits \u2018value zone\u2019<\/em><\/strong><\/p>\n<p>Bitcoin\u2019s bear market could potentially end before becoming its longest ever, he argued on the day, likening this year\u2019s events to those of 2013.<\/p>\n<p>\u201cThe main question I have is how long this cycle&#8217;s accumulation zone will be,\u201d he tweeted.<\/p>\n<p>\u201cJudging from all the blow ups, it&#8217;s more akin to 2013 with the MtGox collapse (Remember 90%+ of BTC was traded there). I suspect it will be longer than 2018 but shorter than 2015.\u201d<\/p>\n<p>An accompanying chart showed the cost basis of LTHs \u2014 defined as entities hodling coins for 155 days or longer \u2014 and short-term holders (STHs), respectively.<\/p>\n<p><em>BTC\/USD cost basis annotated chart. Source: Willy Woo\/ Twitter<\/em><\/p>\n<p>The \u201cpremium\u201d which results from LTH cost basis rising higher than STH cost basis has historically chimed with macro BTC price bottoming periods.<\/p>\n<p class=\"post-content__disclaimer\">The views, thoughts and opinions expressed here are the authors\u2019 alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.\n<\/p>\n<p><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/cointelegraph.com\/news\/btc-price-levels-to-watch-as-bitcoin-limps-into-christmas-under-17k\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin (BTC) entered the Christmas holiday period unchanged at $16,800 as an eerie lack of volatility persevered.\u00a0 BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView Hopeful price target sees Bitcoin at $17,400\u00a0 Data from Cointelegraph Markets Pro and TradingView confirmed another day of an almost imperceptible range for BTC\/USD just below $17,000. The pair had struggled [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":9371,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[2],"tags":[],"class_list":["post-9370","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/9370","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=9370"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/9370\/revisions"}],"predecessor-version":[{"id":9372,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/9370\/revisions\/9372"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/9371"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9370"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9370"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9370"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}