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Bitcoin tests yearly moving average as $100K by Christmas needs 'small miracle'
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Bitcoin (BTC) prepared a showdown with a key moving average (MA) price trend on Dec. 19 with time running out for a strong 2021 close.
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD trading at $47,000 Sunday, still firmly in an established range.
That price is currently the location of Bitcoin's one-year MA trendline, an important historical line in the sand that has enabled considerable upside if BTC/USD preserves it as support.
"The 1yr MA is a pretty important bitcoin bull/bear pivot level historically and we are sat right on it now," Philip Swift, creator of on-chain data resource Look Into Bitcoin, commented.
A bounce would still leave a vast amount of ground to recover in order to post an end-of-year closing price
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