Bitcoin Price Struggles to Break $17K Resistance, Drops 1.68% in 24 Hours

• The Bitcoin price prediction shows BTC dropping slightly after getting rejected at $16,638.
• The Bitcoin price fails to make any ground towards the upper boundary of the channel, and is dropping heavily with a loss of 1.68% within 24 hours of trading, touching the daily low of $40,505.
• The Bitcoin price needs to break the $17,000 resistance to make the market bullish.

The Bitcoin price prediction for today, December 30th, shows that BTC is diving below the $16,500 support level after getting rejected at $16,638. This signals a slight dip in the market price, with Bitcoin currently trading at $19,335. With a market cap of $370.6 billion, a circulating supply of 19.1 million, and a total supply of 19.1 million, Bitcoin continues to reign as the top crypto asset in the market according to Coinmarketcap.

On the daily chart, Bitcoin is showing signs of weakness as the market price continues to fail each time it attempts to break and head towards the upper boundary of the channel. This has caused the Bitcoin price to drop by 1.68% within 24 hours of trading, resulting in a daily low of $40,505. To turn the market bullish, the Bitcoin price would need to break the $17,000 resistance level.

The Relative Strength Index (14) signal line is also crossing below the 40-level, indicating that the market is bearish. Therefore, it is important to pay attention to the price movements of Bitcoin and watch for any signs of a potential reversal in the near future.

Overall, the Bitcoin price is continuing to struggle as it attempts to break the resistance level of $17,000, and it remains to be seen how the market will react in the coming days. For now, investors should remain aware of the current market situation and be prepared to take the appropriate action if needed.