On Monday, October 20, at the end of the day, bitcoin rose by 0.50% to $46914. The support of $45550 resisted. The price bounced back along with the American stock indexes. The recovery of cryptocurrencies began before the indices. The SP500 index recovered by 0.80%, but closed down by 1.04%. Bitcoin recovered by 2.97% and closed in the black.
On Tuesday, December 21, demand for risky assets remained in the Asian session
Traders did not pay attention to the problematic situation with the increase in the number of cases of Omicron coronavirus, responding positively to Beijing’s actions to help distressed real estate companies.
The BTC/USD pair recovered to $48963. Buyers have passed the first important level of $47700 and this is just the beginning. The second resistance was the trend line ($48800) from the top of $51954. Behind it there are several more levels that need to be passed in order to reverse the bearish trend.
The upper boundary of the corridor is between the levels of $51200-51950. If buyers pass it, then bitcoin will have a small chance to return to the level of $ 55 thousand by the end of the year.