Bitcoin Price Analysis — December 26

Following the “Santa Claus rally” on Thursday, BTC appears to have lost momentum at the 51.4K barrier. As noted in a previous analysis, the benchmark cryptocurrency needs to close above the 51.4K pivot top to cement a bullish sentiment and make its way back to the upper-$50,000s. Instead, the cryptocurrency has recorded a mild rejection from the 51.4K resistance, which sent it to the 49.5K support earlier today. Regardless, BTC bulls immediately came online, depriving bears of any chance to act on the price. That said, BTC remains under the unwavering bullish sentiment and should retest the 51.4K top in the coming days.

Meanwhile, my resistance levels are at $50,000, $50,500, and $51,400, and my key support levels are at $49,500, $48,500, and $48,000.

Total Market Capitalization: $2.35 trillion

Bitcoin Market Capitalization: $945.8 trillion

Bitcoin Dominance: 40.2%

Market Rank: #1