This summary text is fully AI-generated and may therefore contain errors or be incomplete.
The price of Bitcoin (BTC) has remained stable above the moving average lines, but it is currently on the retreat after being rejected on November 24. The resistance at $38,000 has slowed down the upward momentum of the cryptocurrency, causing it to retreat to its previous trading range of $35,400 to $38,000. At the time of writing, the BTC price is worth $37,211. If the bears break below the 21-day SMA and the downtrend continues, Bitcoin risks a decline to a low above the 50-day SMA or the $34,000 support. However, if Bitcoin finds support above the moving average lines, the existing price range will be maintained. The 21-day SMA has been repeatedly tested by BTC prices and provides support for the current rally. As long as the moving average line is not breached, the cryptocurrency is expected to continue rising. The key resistance levels for Bitcoin are $30,000 and $35,000, while the key support levels are $20,000 and $15,000. Bitcoin will move within its trading range as long as it stays above the moving average lines. The recent pullback has stopped as it consolidates above the $37,000 support, with the price movement being limited by doji candlesticks. It is important to note that this analysis and forecast are the personal opinions of the author and should not be viewed as a recommendation to buy or sell cryptocurrency. Readers should conduct their own research before investing.