The Bitcoin price has recently reached a resistance level of $45,000 but has since stalled. Despite this, the long-term forecast for Bitcoin remains bullish. After reaching a high of $44,488 on December 5, the cryptocurrency fell back and was rejected at a high of $44,699 on December 8. Currently, the Bitcoin price is at $42,182 and has found support above the 21-day simple moving average. As long as it remains above this level, the current upswing is expected to continue, with a potential rise above $47,000 if the resistance level is broken.

Technical indicators suggest that Bitcoin could fall further, with the price bars slipping below the moving average lines on the 4-hour chart. On the daily chart, a decline will occur if the bears fall below the 21-day SMA support, and the bearish momentum will continue above or below the 50-day simple moving average, potentially leading to a low of $37,500.

Looking ahead, Bitcoin is expected to break through the $45,000 resistance level after finding support above the moving average lines. Currently, the cryptocurrency is trading in the middle of its price range, having been forced to trade sideways between $40,000 and $44,500 during the break of the uptrend.

It’s important to note that this analysis and forecast are the personal opinions of the author and should not be considered as a recommendation to buy or sell cryptocurrency. Readers are advised to conduct their own research before making any investment decisions.