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30.12.202216:52 Forex Analysis & Reviews: Weekly analysis on Bitcoin for the end of 2022.

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Bitcoin continues to trade sideways over the last two months with no real progress. Price continues to trade near the 2022 lows at $16,600. Medium-term trend remains bearish. Bitcoin is well of its all time highs having suffered by the scandals in the crypto market. Technically Bitcoin remains in a bearish trend with no sign of a reversal. The most probable outcome would be for Bitcoin price to break the recent sideways consolidation move to the downside. Resistance remains key at $21,180. Bears remain in control of the trend. As long as we trade below this level bears are in control.

Alexandros Yfantis
Analytical expert of InstaForex
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