1-Day Analysis:
Big Picture: Bitcoin price action has been caught in significant indecision and volatility. This volatility may be caused by a lack of liquidity as the year comes to a close. Both participants are competing head to head in order to accomplish a favorable monthly closure. Meanwhile, the bulls have the upper hand for the time being and may continue to do so.
![](https://bkcryptocrusher.com/wp-content/uploads/2023/12/BTC-1D-29th-Dec-2023-1024x506.png)
On the Upside rice was able to break through the immediate barrier but failed to build a stronghold at the next resistance level, resulting in intraday profit-taking. For the session, the first resistance levels of 43,165 and 43,285 remain valid, followed by the next congestion zone from 43,620 to 43,880. Bulls must establish a foothold over 44,000 in order to re-establish short-term circumstances in favor and aim for 44,800 and 45,400.
On the Downside the daily EMA-22 has been a primary driver of dynamic support. Price has consistently honored this support since mid-November. The EMA-22 is now positioned around 42,470, which is also the current short-term range-mid point. However, if sellers want to extend the downside, a breach below this midpoint is essential. Breaking the support level successfully, pushes the downside into 41,600 and possibly back into 40,520.