Bitcoin Bull vs Bear Showdown: BTC Price Weekly Resistance & Monthly Outlook Analysis

Bitcoin turned green and jumped $4,100 by closing at $4,153. But with the 24-hours loss of 0.16 percent, the top cryptocurrency dropped and has been trading at $4,089, at the time of writing, as per Coinmarketcap.

This drop followed the news of Bithumb hack as cryptocurrency prices in the broader market started to move downwards. The market is slowly turning red and losing all the gains it had made, wiping out $7 billion from the total market cap in the process.

Just yesterday, CNBC Futures now, posted yet another Bitcoin rocket tweet with “can’t stop” and “won’t stop.” And yet again just as Bitcoin has been making an upward move, CNBC took it down with its bullish Tweet.

Weekly Resistance & Monthly Outlook

A short rally had started as Bitcoin jumped 3 percent but is back to going below $4k. According to crypto analyst, The Cryptomist, we might not break into an upward move right now. She is expecting Bitcoin to take a drop before it sees a long green candle.

“Weekly resistance right on the money! The daily candle is being rejected by the downtrend resistance that has held us in for a year. Double top on RSI suggest we may not break right now. My gut feeling – need 1 more leg down before break. When we do break, long green candle!”

When it comes to the monthly outlook for Bitcoin price, it all depends if BTC takes down the $4,300 level as crypto analyst, Altcoin Psycho said,

“The monthly chart paints such a simple yet telling picture. I think we can agree this looks like any other bearish support/resistance flip. With that said, it'll be pretty significant if we do clear the 4300-4400 level. PLENTY of free space above.”

Possible Scenarios

According to the crypto trader, Credible Crypto $4,200 is the point where the Bitcoin bull and the bear showdown will occur and we get to see for sure the direction Bitcoin will move into.

Just like Credible Crypto, crypto trader and investor, Josh Rager says if we manage to break the resistance and move above $4,200, it would be bullish in the short term as we could even get to see $5k but it needs green ascending volume.

While the bearish scenario will occur if price peaks out with descending volume that would see BTC drop around $3,500. And if this breaks down as well, it would be “very bearish” meaning we can further drop to $3,196, the yearly lowest from December.

“It's been a historically good idea to short/sell near $4200 and buy/long near $3500.”

In case Bitcoin continue to trade sideways as it has been doing for the past few days, it would be good for altcoins. The money from Bitcoin will move into altcoins and they will see significant pump.

As far as zooming out of the weekly resistance and monthly outlook, many are expecting the 2020 bitcoin halving to be significant for the BTC value. Expected to happen between April and June of next year, many analyst are in agreement that a rally is inevitable. Especially, if you take into account bitcoin's 10 year history and track record of currently going through it's fourth fractal pattern of 90%+ clawbacks from all time high levels only to see a bounce back of 10-20x to follow. This is why many crypto twitter traders are expecting the value to skyrocket once the real momentum and market mojo kicks back into the ever-evolving equation of crypto assets.

However, nothing is guaranteed in the wild Wild West of the crypto and blockchain ecosystem, and while BTC has been making tremendous strides in terms of user awareness and adoption, predicting the price of bitcoin is never easy and no one ever has the answers in full.

Live Bitcoin (BTC) Price:

1 BTC/USD =$11,675.9632 change ~ 0.66%

Coin Market Cap

$215.47 Billion

24 Hour Volume

$5.33 Billion

24 Hour VWAP

$11.61 K

24 Hour Change


Bitcoin’s Horror Story: A BTC Price Drop to $1,000 USD Before Bull Run Starts

Find Us: Telegram \\ Facebook \\ Twitter \\ Live Prices \\ Today’s News \\ BTC Charts

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

AnTy has been involved in the crypto space full-time for over two years now. Before her blockchain beginnings, she worked with the NGO, Doctor Without Borders as a fundraiser and since then exploring, reading, and creating for different industry segments.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


Please enter your comment!
Please enter your name here


Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

Crypto Mom, Hester Peirce, Secures Second Term as SEC Commissioner Through 2025

The US Securities and Exchange (SEC) Commissioner Hester Peirce, aka “Crypto Mom,” has been confirmed for a second term that will last till June...

yEarn Expanding its Ecosystem to Bring in Hot DeFi Tokens into the Mix

DeFi craze continues to get hotter as the system grows. yEarn’s zero supply valueless token YFI climbed to a new high today at $5,300 and...

Bitcoin Dollar Cost Averaging From 2017 Market Peak Still Returned 61.8%

Bitcoin price remains strong, not far from hitting $12,000 yet again after the touch and go over the weekend. Interestingly, despite the fact that the...

DEX Leader Raises $11 Million in Series A Funding for Uniswap V3 Following an Explosive Month

A popular and widely used decentralized exchange (DEX) Uniswap has raised $11 million in Series A funding led by Andreessen Horowitz with additional investment...

Dapper Labs Raises $12M with NBA Players from the Brooklyn Nets & Miami Heat Participating

Vancouver-based Dapper Labs has raised $12 million in its latest financing round with additional backing from Coinbase ventures and Distributed Global. Its existing investors...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today